McGrath RentCorp (NASDAQ:MGRC) VP Keith E. Pratt Sells 3,261 Shares
McGrath RentCorp (NASDAQ:MGRC) VP Keith E. Pratt sold 3,261 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.73, for a total value of $132,820.53. Following the transaction, the vice president now directly owns 26,000 shares in the company, valued at $1,058,980. The sale was disclosed in a document filed with the SEC, which is available at this link.
McGrath RentCorp (NASDAQ:MGRC) opened at 39.47 on Wednesday. The company’s 50-day moving average price is $34.78 and its 200 day moving average price is $35.13. The company has a market capitalization of $947.00 million, a price-to-earnings ratio of 22.57 and a beta of 0.97. McGrath RentCorp has a 52-week low of $29.27 and a 52-week high of $41.48.
McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. McGrath RentCorp had a return on equity of 10.62% and a net margin of 9.74%. The business had revenue of $109.58 million for the quarter, compared to the consensus estimate of $105.36 million. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that McGrath RentCorp will post $1.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.04 dividend on an annualized basis and a yield of 2.63%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 59.43%.
Large investors have recently modified their holdings of the stock. GWM Advisors LLC bought a new stake in shares of McGrath RentCorp during the first quarter worth about $808,000. Martingale Asset Management L P increased its stake in shares of McGrath RentCorp by 87.9% in the first quarter. Martingale Asset Management L P now owns 75,174 shares of the financial services provider’s stock worth $2,524,000 after buying an additional 35,174 shares during the period. Airain ltd bought a new stake in shares of McGrath RentCorp during the first quarter worth about $201,000. Trexquant Investment LP increased its stake in shares of McGrath RentCorp by 167.8% in the first quarter. Trexquant Investment LP now owns 24,200 shares of the financial services provider’s stock worth $812,000 after buying an additional 15,163 shares during the period. Finally, BW Gestao de Investimentos Ltda. increased its stake in shares of McGrath RentCorp by 6.8% in the first quarter. BW Gestao de Investimentos Ltda. now owns 18,325 shares of the financial services provider’s stock worth $615,000 after buying an additional 1,172 shares during the period. Institutional investors and hedge funds own 82.64% of the company’s stock.
A number of equities analysts recently weighed in on MGRC shares. Zacks Investment Research cut McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub cut McGrath RentCorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.
McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through 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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