McGrath RentCorp (NASDAQ:MGRC) SVP Gilda Malek Sells 829 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC) SVP Gilda Malek sold 829 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $107.29, for a total value of $88,943.41. Following the sale, the senior vice president owned 4,068 shares of the company’s stock, valued at approximately $436,455.72. The trade was a 16.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

McGrath RentCorp Price Performance

Shares of McGrath RentCorp stock opened at $107.54 on Wednesday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.14 and a beta of 0.51. The stock’s 50-day moving average is $107.87 and its 200 day moving average is $115.11. McGrath RentCorp has a one year low of $94.99 and a one year high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.11). The company had revenue of $256.44 million during the quarter, compared to the consensus estimate of $266.62 million. McGrath RentCorp had a net margin of 15.62% and a return on equity of 12.59%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.87 EPS. On average, sell-side analysts expect that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be paid a $0.485 dividend. The ex-dividend date is Friday, January 16th. This represents a $1.94 annualized dividend and a dividend yield of 1.8%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 32.83%.

Wall Street Analyst Weigh In

MGRC has been the topic of a number of research reports. Weiss Ratings downgraded McGrath RentCorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 30th. Oppenheimer boosted their price objective on McGrath RentCorp from $139.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

Institutional Trading of McGrath RentCorp

A number of large investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in McGrath RentCorp during the third quarter valued at about $29,000. Cullen Frost Bankers Inc. purchased a new position in McGrath RentCorp in the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC raised its position in McGrath RentCorp by 767.7% during the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in McGrath RentCorp in the 2nd quarter worth approximately $37,000. Finally, Danske Bank A S purchased a new stake in shares of McGrath RentCorp in the 3rd quarter valued at $47,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

McGrath RentCorp Company Profile

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.