David M. Whitney Sells 5,176 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) VP David M. Whitney sold 5,176 shares of McGrath RentCorp stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $117.00, for a total transaction of $605,592.00. Following the completion of the sale, the vice president now directly owns 205 shares of the company’s stock, valued at approximately $23,985. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

McGrath RentCorp Price Performance

NASDAQ:MGRC opened at $115.36 on Friday. The firm has a 50-day moving average of $106.73 and a 200-day moving average of $107.36. The company has a market cap of $2.83 billion, a PE ratio of 12.61, a PEG ratio of 1.64 and a beta of 0.75. McGrath RentCorp has a one year low of $95.50 and a one year high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.39 by $0.48. The company had revenue of $266.76 million during the quarter, compared to the consensus estimate of $227.76 million. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 earnings per share. On average, equities research analysts expect that McGrath RentCorp will post 5.5 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.65%. The ex-dividend date was Thursday, October 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 20.77%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MGRC shares. StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Oppenheimer lifted their price target on shares of McGrath RentCorp from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in McGrath RentCorp by 5.4% during the third 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 during the last quarter. Sei Investments Co. boosted its holdings in McGrath RentCorp by 2.9% during the first quarter. Sei Investments Co. now owns 4,473 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 126 shares during the last quarter. Arizona State Retirement System boosted its holdings in McGrath RentCorp by 2.1% during the second quarter. Arizona State Retirement System now owns 6,871 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 141 shares during the last quarter. Covestor Ltd boosted its holdings in McGrath RentCorp by 15.8% during the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 161 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in McGrath RentCorp by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 10,397 shares of the financial services provider’s stock valued at $1,108,000 after acquiring an additional 185 shares during the last quarter. 92.05% of the stock is currently owned by hedge funds and other 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.