McGrath RentCorp (NASDAQ:MGRC) Director Elizabeth A. Fetter Sells 1,400 Shares

McGrath RentCorp (NASDAQ:MGRCGet Rating) Director Elizabeth A. Fetter sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $82.15, for a total value of $115,010.00. Following the completion of the transaction, the director now owns 5,100 shares in the company, valued at approximately $418,965. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ:MGRC traded up $1.16 during trading on Monday, hitting $81.50. 43,868 shares of the company were exchanged, compared to its average volume of 86,345. The company has a market cap of $1.98 billion, a PE ratio of 21.91, a P/E/G ratio of 1.98 and a beta of 0.79. The stock has a 50 day moving average of $83.93 and a 200 day moving average of $80.24. McGrath RentCorp has a 52-week low of $67.08 and a 52-week high of $91.37.

McGrath RentCorp (NASDAQ:MGRCGet Rating) last posted its earnings results on Thursday, April 28th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $145.37 million for the quarter, compared to the consensus estimate of $146.41 million. McGrath RentCorp had a return on equity of 12.65% and a net margin of 14.21%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, analysts anticipate that McGrath RentCorp will post 4.06 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Friday, April 15th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, April 13th. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.44. McGrath RentCorp’s dividend payout ratio (DPR) is 48.92%.

Several equities analysts recently commented on the company. StockNews.com downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Zacks Investment Research upgraded McGrath RentCorp from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Wednesday, May 4th.

Hedge funds have recently modified their holdings of the stock. DB Wealth Management Group LLC purchased a new stake in shares of McGrath RentCorp in the first quarter worth $26,000. Lazard Asset Management LLC purchased a new stake in shares of McGrath RentCorp in the first quarter worth $51,000. Pinebridge Investments L.P. purchased a new stake in shares of McGrath RentCorp in the fourth quarter worth $80,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of McGrath RentCorp in the fourth quarter worth $122,000. Finally, PNC Financial Services Group Inc. bought a new position in McGrath RentCorp in the first quarter valued at $168,000. Institutional investors own 92.27% of the company’s stock.

About McGrath RentCorp (Get Rating)

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, electronic test equipment and related accessories, and liquid and solid containment tanks and boxes. The company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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