Gilda Malek Sells 829 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) SVP Gilda Malek sold 829 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $107.29, for a total transaction of $88,943.41. Following the sale, the senior vice president directly owned 4,068 shares of the company’s stock, valued at $436,455.72. This represents a 16.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

McGrath RentCorp Trading Down 1.2%

Shares of MGRC opened at $106.26 on Thursday. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $129.93. The firm has a market capitalization of $2.62 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 1.14 and a beta of 0.51. The stock’s fifty day simple moving average is $107.67 and its 200 day simple moving average is $115.05.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.72 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.11). The firm had revenue of $256.44 million for the quarter, compared to analyst estimates of $266.62 million. McGrath RentCorp had a return on equity of 12.59% and a net margin of 15.62%.The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.87 earnings per share. Sell-side analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be issued a $0.485 dividend. The ex-dividend date is Friday, January 16th. This represents a $1.94 annualized dividend and a yield of 1.8%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 32.83%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of McGrath RentCorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 30th. Oppenheimer upped their price target on shares of McGrath RentCorp from $139.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

Hedge Funds Weigh In On McGrath RentCorp

Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in McGrath RentCorp by 0.7% during the second quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider’s stock worth $1,422,000 after acquiring an additional 85 shares during the period. Coldstream Capital Management Inc. lifted its stake in McGrath RentCorp by 0.5% during the second quarter. Coldstream Capital Management Inc. now owns 18,688 shares of the financial services provider’s stock valued at $2,167,000 after purchasing an additional 88 shares during the last quarter. Cim LLC boosted its holdings in McGrath RentCorp by 2.2% during the second quarter. Cim LLC now owns 4,556 shares of the financial services provider’s stock worth $528,000 after buying an additional 99 shares in the last quarter. Adirondack Trust Co. increased its holdings in shares of McGrath RentCorp by 20.0% in the second quarter. Adirondack Trust Co. now owns 600 shares of the financial services provider’s stock valued at $70,000 after buying an additional 100 shares in the last quarter. Finally, Summit Global Investments lifted its position in shares of McGrath RentCorp by 2.3% during the 2nd quarter. Summit Global Investments now owns 4,971 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

McGrath RentCorp Company Profile

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.