McGrath RentCorp (NASDAQ:MGRC) VP Sells $278,300.00 in Stock

McGrath RentCorp (NASDAQ:MGRC) VP John P. Skenesky sold 2,500 shares of McGrath RentCorp stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $111.32, for a total value of $278,300.00. Following the completion of the transaction, the vice president now owns 8,692 shares of the company’s stock, valued at $967,593.44. The trade was a 22.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

McGrath RentCorp Trading Down 1.6%

Shares of MGRC stock opened at $110.18 on Monday. The company has a market cap of $2.71 billion, a P/E ratio of 11.68, a PEG ratio of 1.35 and a beta of 0.66. The firm has a fifty day moving average price of $109.08 and a 200 day moving average price of $115.41. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.13. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The business had revenue of $195.42 million during the quarter, compared to analysts’ expectations of $189.03 million. During the same period in the prior year, the firm posted $0.93 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th were paid a $0.485 dividend. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Wednesday, April 16th. McGrath RentCorp’s dividend payout ratio is currently 20.10%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Friday, April 25th.

Institutional Trading of McGrath RentCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atala Financial Inc acquired a new position in shares of McGrath RentCorp in the 4th quarter valued at $31,000. New Age Alpha Advisors LLC acquired a new stake in McGrath RentCorp during the 4th quarter worth $33,000. Canada Pension Plan Investment Board purchased a new stake in McGrath RentCorp in the fourth quarter valued at $89,000. KBC Group NV boosted its stake in McGrath RentCorp by 37.3% in the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 286 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in McGrath RentCorp in the fourth quarter valued at $136,000. 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.