McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box Sells 1,000 Shares

McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total transaction of $124,690.00. Following the sale, the director now directly owns 7,500 shares of the company’s stock, valued at $935,175. The trade was a 11.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

McGrath RentCorp Price Performance

MGRC stock opened at $122.00 on Friday. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $129.93. The firm has a 50-day moving average of $118.86 and a 200 day moving average of $113.96. The company has a market cap of $3.00 billion, a P/E ratio of 12.94, a PEG ratio of 1.35 and a beta of 0.77.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The firm had revenue of $243.75 million during the quarter, compared to analyst estimates of $246.93 million. On average, equities research analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.48. McGrath RentCorp’s payout ratio is 20.57%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. CJS Securities began coverage on shares of McGrath RentCorp in a report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 target price for the company. StockNews.com upgraded McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Friday. Finally, Oppenheimer boosted their target price on McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC boosted its stake in McGrath RentCorp by 3.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,602 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 86 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of McGrath RentCorp by 5.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 104 shares in the last quarter. Covestor Ltd grew its stake in shares of McGrath RentCorp by 15.8% in the 3rd quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock worth $125,000 after buying an additional 161 shares during the last quarter. Summit Investment Advisors Inc. increased its position in McGrath RentCorp by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,553 shares of the financial services provider’s stock valued at $285,000 after buying an additional 162 shares in the last quarter. Finally, Sei Investments Co. raised its stake in McGrath RentCorp by 1.8% during the fourth quarter. Sei Investments Co. now owns 10,575 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 184 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors.

About McGrath RentCorp

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.