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

McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total transaction of $124,690.00. Following the completion of the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $935,175. The trade was a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

McGrath RentCorp Stock Performance

NASDAQ MGRC opened at $122.00 on Friday. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93. The company has a fifty day moving average of $118.86 and a 200-day moving average of $113.96. The company has a market capitalization of $3.00 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.35 and a beta of 0.77.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm 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, analysts forecast that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $1.94 annualized dividend and a 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 is currently 20.57%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Atala Financial Inc bought a new position in shares of McGrath RentCorp during the 4th quarter valued at $31,000. New Age Alpha Advisors LLC purchased a new stake in McGrath RentCorp during the fourth quarter valued at about $33,000. KBC Group NV increased its holdings in shares of McGrath RentCorp by 32.5% in the third quarter. KBC Group NV now owns 767 shares of the financial services provider’s stock worth $81,000 after buying an additional 188 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of McGrath RentCorp in the 4th quarter valued at about $89,000. Finally, Covestor Ltd boosted its holdings in McGrath RentCorp by 15.8% during the 3rd quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 161 shares during the period. 92.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MGRC. StockNews.com raised McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday. CJS Securities initiated coverage on McGrath RentCorp in a research report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 price target for the company. Finally, Oppenheimer upped their price objective on shares of McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd.

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.