McGrath RentCorp (NASDAQ:MGRC) Director Joseph Hanna Sells 4,748 Shares of Company Stock

McGrath RentCorp (NASDAQ:MGRC) Director Joseph Hanna sold 4,748 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $130.73, for a total value of $620,706.04. Following the completion of the transaction, the director owned 139,301 shares of the company’s stock, valued at approximately $18,210,819.73. This represents a 3.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $132.86 on Thursday. McGrath RentCorp has a 12-month low of $94.99 and a 12-month high of $134.61. The company has a market capitalization of $3.24 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.35 and a beta of 0.48. The firm’s 50-day moving average is $114.69 and its two-hundred day moving average is $114.30.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.11. McGrath RentCorp had a return on equity of 12.75% and a net margin of 16.75%. The company had revenue of $274.61 million during the quarter, compared to the consensus estimate of $273.25 million. On average, analysts forecast that McGrath RentCorp will post 6.38 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 16th were given a dividend of $0.4950 per share. This represents a $1.98 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, October 16th. McGrath RentCorp’s dividend payout ratio (DPR) is currently 30.51%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of McGrath RentCorp in a report on Monday, October 26th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $140.00.

Institutional Trading of McGrath RentCorp

A number of hedge funds have recently bought and sold shares of MGRC. Ethic Inc. grew its holdings in McGrath RentCorp by 4.9% in the third quarter. Ethic Inc. now owns 2,520 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 117 shares during the period. Keybank National Association OH increased its position in McGrath RentCorp by 3.9% during the third quarter. Keybank National Association OH now owns 5,381 shares of the financial services provider’s stock worth $615,000 after purchasing an additional 202 shares during the last quarter. Navellier & Associates Inc. raised its stake in McGrath RentCorp by 12.8% during the second quarter. Navellier & Associates Inc. now owns 2,626 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 297 shares during the period. Nisa Investment Advisors LLC raised its stake in McGrath RentCorp by 19.7% during the third quarter. Nisa Investment Advisors LLC now owns 2,153 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 354 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in McGrath RentCorp during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

McGrath RentCorp Company Profile

McGrath RentCorp was a business-to-business rental company that provided modular buildings, portable storage, electronic test equipment and related products. Its modular building offerings served customers needing temporary or permanent space, including classrooms, offices, healthcare facilities and other commercial or institutional applications.

Through brands such as Mobile Modular, the company rented relocatable buildings and portable storage units, while its TRS-RenTelco business provided electronic test and measurement equipment to telecommunications, electronics, aerospace, defense and other industrial customers.