McGrath RentCorp (MGRC) Director Sells $36,390.00 in Stock
McGrath RentCorp (NASDAQ:MGRC) Director Elizabeth A. Fetter sold 1,000 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $36.39, for a total value of $36,390.00. Following the completion of the sale, the director now directly owns 4,300 shares of the company’s stock, valued at approximately $156,477. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
McGrath RentCorp (NASDAQ:MGRC) opened at 36.1253 on Thursday. The firm’s 50-day moving average price is $32.08 and its 200 day moving average price is $30.73. McGrath RentCorp has a 12 month low of $21.46 and a 12 month high of $37.25. The stock has a market cap of $863.90 billion, a price-to-earnings ratio of 21.6319 and a beta of 1.02.
McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. McGrath RentCorp had a return on equity of 10.44% and a net margin of 9.44%. The business had revenue of $122 million for the quarter, compared to the consensus estimate of $114.10 million. During the same quarter in the previous year, the company posted $0.54 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. On average, analysts anticipate that McGrath RentCorp will post $1.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Monday, October 17th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Thursday, October 13th. McGrath RentCorp’s payout ratio is 61.08%.
A number of brokerages recently commented on MGRC. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Friday, August 5th. Sidoti raised their price target on McGrath RentCorp from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, September 14th.
Institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank increased its position in McGrath RentCorp by 0.9% in the third quarter. Swiss National Bank now owns 35,200 shares of the company’s stock valued at $1,116,000 after buying an additional 300 shares in the last quarter. BlackRock Group LTD increased its position in McGrath RentCorp by 2.1% in the third quarter. BlackRock Group LTD now owns 19,826 shares of the company’s stock valued at $628,000 after buying an additional 414 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in McGrath RentCorp by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 80,326 shares of the company’s stock valued at $2,457,000 after buying an additional 450 shares in the last quarter. California State Teachers Retirement System increased its position in McGrath RentCorp by 1.0% in the third quarter. California State Teachers Retirement System now owns 49,720 shares of the company’s stock valued at $1,577,000 after buying an additional 500 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position in McGrath RentCorp by 4.9% in the second quarter. BlackRock Advisors LLC now owns 11,025 shares of the company’s stock valued at $337,000 after buying an additional 519 shares in the last quarter. 81.02% of the stock is currently owned by hedge funds and other institutional investors.
McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company with four rental divisions: relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes. The Company operates in four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
Receive News & Stock Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related stocks with our FREE daily email newsletter.