McGrath RentCorp (NASDAQ:MGRC) CFO Keith E. Pratt sold 1,412 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $46.01, for a total transaction of $64,966.12. Following the completion of the sale, the chief financial officer now owns 28,118 shares of the company’s stock, valued at $1,293,709.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
McGrath RentCorp (MGRC) opened at $46.35 on Tuesday. McGrath RentCorp has a 12-month low of $32.09 and a 12-month high of $49.66. The firm has a market cap of $1,101.39, a PE ratio of 24.12, a P/E/G ratio of 2.25 and a beta of 0.99.
McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. The company had revenue of $135.39 million for the quarter, compared to analyst estimates of $124.90 million. During the same period last year, the firm earned $0.54 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. equities analysts anticipate that McGrath RentCorp will post 2.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 17th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, October 16th. McGrath RentCorp’s dividend payout ratio is 54.74%.
A number of hedge funds have recently made changes to their positions in the business. Asset Management One Co. Ltd. raised its position in McGrath RentCorp by 40.3% in the third quarter. Asset Management One Co. Ltd. now owns 81,400 shares of the financial services provider’s stock worth $3,584,000 after acquiring an additional 23,400 shares during the period. Dimensional Fund Advisors LP raised its position in McGrath RentCorp by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,781,300 shares of the financial services provider’s stock worth $77,932,000 after acquiring an additional 35,195 shares during the period. Schwab Charles Investment Management Inc. raised its position in McGrath RentCorp by 6.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 172,598 shares of the financial services provider’s stock worth $7,552,000 after acquiring an additional 9,762 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in McGrath RentCorp in the third quarter worth about $297,000. Finally, Wells Fargo & Company MN raised its position in shares of McGrath RentCorp by 90.4% in the third quarter. Wells Fargo & Company MN now owns 34,290 shares of the financial services provider’s stock valued at $1,501,000 after purchasing an additional 16,277 shares during the period. 81.97% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on MGRC. Zacks Investment Research cut shares of McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of McGrath RentCorp in a report on Wednesday, November 1st.
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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