McGrath RentCorp (MGRC) CFO Keith E. Pratt Sells 2,599 Shares
McGrath RentCorp (NASDAQ:MGRC) CFO Keith E. Pratt sold 2,599 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $36.03, for a total value of $93,641.97. Following the completion of the transaction, the chief financial officer now directly owns 30,099 shares in the company, valued at $1,084,466.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
McGrath RentCorp (NASDAQ:MGRC) traded up 0.53% during mid-day trading on Monday, reaching $36.22. The company had a trading volume of 16,456 shares. The company has a market capitalization of $865.91 million, a price-to-earnings ratio of 21.56 and a beta of 1.02. McGrath RentCorp has a 12 month low of $21.46 and a 12 month high of $37.25. The firm’s 50 day moving average price is $32.22 and its 200-day moving average price is $30.81.
McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Tuesday, November 1st. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ 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 firm earned $122 million during the quarter, compared to analysts’ expectations of $114.10 million. During the same period in the previous year, the firm posted $0.54 EPS. McGrath RentCorp’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts anticipate that McGrath RentCorp will post $1.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Monday, October 17th were issued a dividend of $0.255 per share. 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 dividend payout ratio (DPR) is 61.08%.
MGRC has been the topic of a number of research reports. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Friday, August 5th. Sidoti increased their price objective on McGrath RentCorp from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, September 14th.
Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in shares of McGrath RentCorp during the second quarter worth about $296,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of McGrath RentCorp during the second quarter worth about $1,084,000. LSV Asset Management increased its stake in shares of McGrath RentCorp by 110.4% in the second quarter. LSV Asset Management now owns 67,744 shares of the company’s stock worth $2,072,000 after buying an additional 35,544 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of McGrath RentCorp during the second quarter worth about $795,000. Finally, Stanley Laman Group Ltd. acquired a new stake in shares of McGrath RentCorp during the second quarter worth about $248,000. 80.73% of the stock is owned by 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).
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