McGrath RentCorp (MGRC) Director Elizabeth A. Fetter Sells 800 Shares
McGrath RentCorp (NASDAQ:MGRC) Director Elizabeth A. Fetter sold 800 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $35.84, for a total value of $28,672.00. Following the completion of the transaction, the director now owns 3,500 shares of the company’s stock, valued at $125,440. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
McGrath RentCorp (NASDAQ:MGRC) traded up 0.53% during midday trading on Monday, reaching $36.22. The company’s stock had a trading volume of 17,978 shares. The firm has a 50 day moving average of $32.22 and a 200 day moving average of $30.81. The firm has a market cap of $865.91 million, a P/E ratio of 21.56 and a beta of 1.02. McGrath RentCorp has a 52-week low of $21.46 and a 52-week high of $37.25.
McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Tuesday, November 1st. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm earned $122 million during the quarter, compared to the consensus estimate of $114.10 million. McGrath RentCorp had a return on equity of 10.44% and a net margin of 9.44%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. Analysts anticipate that McGrath RentCorp will post $1.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Monday, October 17th were given a $0.255 dividend. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $1.02 annualized dividend and a yield of 2.83%. McGrath RentCorp’s dividend payout ratio is presently 61.08%.
Institutional investors have recently modified their holdings of the company. Credit Suisse AG increased its position in shares of McGrath RentCorp by 66.0% in the third quarter. Credit Suisse AG now owns 42,410 shares of the company’s stock worth $1,345,000 after buying an additional 16,864 shares during the period. Highbridge Capital Management LLC bought a new position in shares of McGrath RentCorp during the third quarter worth about $211,000. The Manufacturers Life Insurance Company bought a new position in shares of McGrath RentCorp during the third quarter worth about $507,000. Two Sigma Advisers LP increased its position in shares of McGrath RentCorp by 3.4% in the third quarter. Two Sigma Advisers LP now owns 70,562 shares of the company’s stock worth $2,238,000 after buying an additional 2,300 shares during the period. Finally, Citadel Advisors LLC increased its position in shares of McGrath RentCorp by 16.1% in the third quarter. Citadel Advisors LLC now owns 35,050 shares of the company’s stock worth $1,111,000 after buying an additional 4,868 shares during the period. Institutional investors own 80.73% of the company’s stock.
MGRC has been the topic of several research reports. Zacks Investment Research cut McGrath RentCorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 6th. Sidoti boosted their target price on McGrath RentCorp from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, September 14th.
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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