Insider Selling: McGrath RentCorp (MGRC) CFO Sells 1,412 Shares of Stock
McGrath RentCorp (NASDAQ:MGRC) CFO Keith E. Pratt sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $46.01, for a total transaction of $64,966.12. Following the sale, the chief financial officer now owns 28,118 shares in the company, valued at $1,293,709.18. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of McGrath RentCorp (NASDAQ:MGRC) traded down $0.16 during trading hours on Monday, hitting $45.83. 87,900 shares of the stock were exchanged, compared to its average volume of 73,342. The company has a market cap of $1,101.39, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.99. McGrath RentCorp has a 1 year low of $32.09 and a 1 year high of $49.66.
McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. The firm had revenue of $135.39 million for the quarter, compared to analyst estimates of $124.90 million. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. analysts anticipate that McGrath RentCorp will post 2.04 earnings per share for the current year.
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Several large investors have recently modified their holdings of MGRC. Vanguard Group Inc. increased its holdings in shares of McGrath RentCorp by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 2,093,570 shares of the financial services provider’s stock worth $70,282,000 after buying an additional 304,573 shares during the last quarter. Chartwell Investment Partners LLC bought a new position in shares of McGrath RentCorp in the 2nd quarter worth $3,858,000. HCSF Management LLC increased its holdings in shares of McGrath RentCorp by 36.9% in the 2nd quarter. HCSF Management LLC now owns 387,830 shares of the financial services provider’s stock worth $13,431,000 after buying an additional 104,610 shares during the last quarter. Deprince Race & Zollo Inc. increased its holdings in shares of McGrath RentCorp by 4.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,119,041 shares of the financial services provider’s stock worth $38,752,000 after buying an additional 45,353 shares during the last quarter. Finally, SG Capital Management LLC bought a new position in shares of McGrath RentCorp in the 3rd quarter worth $1,934,000. 81.97% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on MGRC shares. Zacks Investment Research lowered shares of McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Oppenheimer Holdings, Inc. reissued 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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