McGrath RentCorp (NASDAQ:MGRC) Director Sells $44,113.70 in Stock

McGrath RentCorp (NASDAQ:MGRC) Director Elizabeth A. Fetter sold 430 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $102.59, for a total transaction of $44,113.70. Following the completion of the sale, the director now directly owns 4,770 shares in the company, valued at $489,354.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

McGrath RentCorp Price Performance

Shares of NASDAQ:MGRC opened at $101.13 on Monday. The stock has a market cap of $2.48 billion, a P/E ratio of 14.37, a P/E/G ratio of 2.10 and a beta of 0.78. The firm has a fifty day moving average price of $95.88 and a 200 day moving average price of $94.35. McGrath RentCorp has a 1-year low of $81.63 and a 1-year high of $111.70.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.18. The firm had revenue of $203.03 million during the quarter, compared to analysts’ expectations of $191.80 million. McGrath RentCorp had a net margin of 22.16% and a return on equity of 14.47%. Sell-side analysts expect that McGrath RentCorp will post 4.81 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were given a dividend of $0.465 per share. The ex-dividend date was Friday, July 14th. This represents a $1.86 dividend on an annualized basis and a yield of 1.84%. McGrath RentCorp’s payout ratio is currently 26.42%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of McGrath RentCorp in a research note on Thursday, August 17th. They set a “hold” rating on the stock.

Hedge Funds Weigh In On McGrath RentCorp

A number of large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its position in McGrath RentCorp by 5.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,041 shares of the financial services provider’s stock worth $189,000 after buying an additional 102 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of McGrath RentCorp by 1.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 7,565 shares of the financial services provider’s stock valued at $707,000 after purchasing an additional 111 shares in the last quarter. FMR LLC increased its holdings in shares of McGrath RentCorp by 14.1% in the 2nd quarter. FMR LLC now owns 978 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 121 shares in the last quarter. Amalgamated Bank increased its holdings in shares of McGrath RentCorp by 3.2% in the 4th quarter. Amalgamated Bank now owns 4,005 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 123 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of McGrath RentCorp by 16.4% in the 4th quarter. Huntington National Bank now owns 936 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

McGrath RentCorp Company Profile

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 liquid and solid containment tanks and boxes. The company operates through Mobile Modular, TRS-RenTelco, and Enviroplex segments.