McGrath RentCorp (NASDAQ:MGRC) VP Sells $132,820.53 in Stock
McGrath RentCorp (NASDAQ:MGRC) VP Keith E. Pratt sold 3,261 shares of the 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 approximately $1,058,980. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of McGrath RentCorp (NASDAQ:MGRC) traded down 0.85% on Tuesday, hitting $39.47. The stock had a trading volume of 77,342 shares. The firm’s 50 day moving average is $34.78 and its 200-day moving average is $35.13. The stock has a market capitalization of $947.00 million, a PE ratio of 22.57 and a beta of 0.97. McGrath RentCorp has a one year low of $29.27 and a one year high of $41.48.
McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $105.36 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. McGrath RentCorp’s revenue was up 6.3% on a year-over-year basis. Equities research analysts expect that McGrath RentCorp will post $1.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.04 annualized dividend and a yield of 2.63%. McGrath RentCorp’s payout ratio is presently 59.43%.
TRADEMARK VIOLATION WARNING: This report was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/08/08/mcgrath-rentcorp-nasdaqmgrc-vp-sells-132820-53-in-stock.html.
Hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its stake in McGrath RentCorp by 24.2% in the second quarter. Prudential Financial Inc. now owns 72,066 shares of the financial services provider’s stock valued at $2,495,000 after buying an additional 14,030 shares during the last quarter. American Century Companies Inc. bought a new stake in McGrath RentCorp during the second quarter valued at about $808,000. Victory Capital Management Inc. raised its stake in McGrath RentCorp by 8.1% in the second quarter. Victory Capital Management Inc. now owns 19,775 shares of the financial services provider’s stock valued at $685,000 after buying an additional 1,477 shares during the last quarter. Chartwell Investment Partners LLC bought a new stake in McGrath RentCorp during the second quarter valued at about $3,858,000. Finally, Deprince Race & Zollo Inc. raised its stake in McGrath RentCorp by 4.2% in the second quarter. Deprince Race & Zollo Inc. now owns 1,119,041 shares of the financial services provider’s stock valued at $38,752,000 after buying an additional 45,353 shares during the last quarter. Institutional investors and hedge funds own 82.64% of the company’s stock.
A number of brokerages have recently commented on MGRC. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Saturday. BidaskClub raised McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Saturday.
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).
Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.com's FREE daily email newsletter.