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

McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box sold 1,000 shares of McGrath RentCorp stock in a transaction dated 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 owns 7,500 shares of the company’s stock, valued at approximately $935,175. This represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

McGrath RentCorp Trading Down 1.6 %

MGRC stock opened at $122.00 on Monday. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $129.93. The company’s 50 day moving average is $118.86 and its two-hundred day moving average is $114.11. The stock 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 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $243.75 million for the quarter, compared to analysts’ expectations of $246.93 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. On average, equities research analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current 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 $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Wednesday, April 16th. McGrath RentCorp’s payout ratio is presently 20.57%.

Wall Street Analysts Forecast Growth

MGRC has been the subject of several recent research reports. StockNews.com raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday. CJS Securities began coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 price target for the company. Finally, Oppenheimer lifted their price target on shares of McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd.

Hedge Funds Weigh In On McGrath RentCorp

A number of institutional investors have recently modified their holdings of MGRC. Raymond James & Associates increased its holdings in shares of McGrath RentCorp by 47.2% in the 3rd quarter. Raymond James & Associates now owns 67,140 shares of the financial services provider’s stock valued at $7,068,000 after acquiring an additional 21,540 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings 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 valued at $213,000 after acquiring an additional 104 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of McGrath RentCorp by 8.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 7,985 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 590 shares during the period. River Road Asset Management LLC increased its stake in McGrath RentCorp by 68.2% in the 3rd quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider’s stock valued at $131,324,000 after buying an additional 505,817 shares during the period. Finally, Covestor Ltd increased its stake in McGrath RentCorp by 15.8% in the 3rd quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock valued at $125,000 after buying an additional 161 shares during the period. 92.05% of the stock is owned by institutional investors and hedge funds.

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.