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

McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was 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 in the company, valued at approximately $935,175. This represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

McGrath RentCorp Price Performance

Shares of MGRC stock opened at $122.00 on Friday. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The company has a market capitalization of $3.00 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.77. The firm’s 50-day moving average is $118.86 and its two-hundred day moving average is $114.04.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The business had revenue of $243.75 million during the quarter, compared to analysts’ expectations of $246.93 million. Sell-side analysts forecast that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.59%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 20.57%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MGRC. StockNews.com raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday. CJS Securities began coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They set an “outperform” rating and a $152.00 target price on the stock. Finally, Oppenheimer lifted their target price on shares of McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd.

Institutional Investors Weigh In On McGrath RentCorp

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of McGrath RentCorp by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,726,133 shares of the financial services provider’s stock valued at $304,836,000 after acquiring an additional 29,467 shares during the last quarter. River Road Asset Management LLC grew its holdings in shares of McGrath RentCorp by 52.1% in the fourth quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider’s stock valued at $212,116,000 after purchasing an additional 649,567 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of McGrath RentCorp by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 1,199,169 shares of the financial services provider’s stock valued at $134,091,000 after purchasing an additional 87,329 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of McGrath RentCorp by 11.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 917,631 shares of the financial services provider’s stock valued at $102,610,000 after purchasing an additional 97,290 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of McGrath RentCorp by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 788,760 shares of the financial services provider’s stock valued at $88,198,000 after purchasing an additional 50,674 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

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, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.