McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box Sells 1,000 Shares

McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $124.69, for a total value of $124,690.00. Following the transaction, the director now owns 7,500 shares in the company, valued at $935,175. This trade represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

McGrath RentCorp Price Performance

Shares of NASDAQ:MGRC opened at $122.00 on Friday. The firm has a market capitalization of $3.00 billion, a PE ratio of 12.94, a P/E/G ratio of 1.35 and a beta of 0.77. The business has a 50-day moving average of $118.86 and a two-hundred day moving average of $113.96. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $243.75 million during the quarter, compared to analyst estimates of $246.93 million. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. As a group, research analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a $0.485 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.48. McGrath RentCorp’s dividend payout ratio (DPR) is 20.57%.

Institutional Investors Weigh In On McGrath RentCorp

A number of large investors have recently modified their holdings of MGRC. Eminence Capital LP acquired a new stake in shares of McGrath RentCorp in the fourth quarter valued at about $83,898,000. River Road Asset Management LLC grew its stake in shares of McGrath RentCorp by 52.1% in the fourth quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider’s stock valued at $212,116,000 after buying an additional 649,567 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of McGrath RentCorp by 57.3% in the third quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider’s stock valued at $119,456,000 after buying an additional 404,884 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of McGrath RentCorp in the third quarter valued at about $15,967,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of McGrath RentCorp in the fourth quarter valued at about $13,179,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Oppenheimer increased their target price on McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. CJS Securities initiated coverage on McGrath RentCorp in a research report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 target price on the stock. Finally, StockNews.com upgraded McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday.

About McGrath RentCorp

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.