McGrath RentCorp (NASDAQ:MGRC) Stock Crosses Above 200 Day Moving Average – Should You Sell?

McGrath RentCorp (NASDAQ:MGRC) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $110.13 and traded as high as $112.56. McGrath RentCorp shares last traded at $110.31, with a volume of 85,826 shares.

Analyst Ratings Changes

Several brokerages have commented on MGRC. StockNews.com raised McGrath RentCorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. CJS Securities started coverage on shares of 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 report on Friday, November 22nd.

McGrath RentCorp Price Performance

The business has a 50-day moving average of $117.52 and a 200 day moving average of $110.13. The company has a market cap of $2.71 billion, a PE ratio of 12.06, a PEG ratio of 1.66 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.48. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The business had revenue of $266.76 million for the quarter, compared to the consensus estimate of $227.76 million. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities analysts predict that McGrath RentCorp will post 5.5 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.475 dividend. The ex-dividend date is Friday, January 17th. This represents a $1.90 annualized dividend and a yield of 1.72%. McGrath RentCorp’s dividend payout ratio is currently 20.77%.

Insiders Place Their Bets

In other McGrath RentCorp news, VP David M. Whitney sold 5,176 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $117.00, for a total transaction of $605,592.00. Following the transaction, the vice president now owns 205 shares of the company’s stock, valued at approximately $23,985. This trade represents a 96.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimberly Ann Box sold 1,000 shares of McGrath RentCorp stock in a transaction on Friday, November 1st. The shares were sold at an average price of $114.62, for a total value of $114,620.00. Following the completion of the transaction, the director now owns 7,500 shares in the company, valued at $859,650. This represents a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,935 shares of company stock valued at $5,605,327 over the last three months. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On McGrath RentCorp

A number of institutional investors have recently modified their holdings of the stock. River Road Asset Management LLC raised its position in shares of McGrath RentCorp by 68.2% in the third quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider’s stock worth $131,324,000 after acquiring an additional 505,817 shares during the period. Franklin Resources Inc. grew its stake in McGrath RentCorp by 57.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider’s stock valued at $119,456,000 after acquiring an additional 404,884 shares in the last quarter. Victory Capital Management Inc. raised its stake in McGrath RentCorp by 6.8% during the third quarter. Victory Capital Management Inc. now owns 755,570 shares of the financial services provider’s stock worth $79,546,000 after purchasing an additional 47,872 shares during the period. Alpine Associates Management Inc. raised its position in McGrath RentCorp by 9.8% in the second quarter. Alpine Associates Management Inc. now owns 710,853 shares of the financial services provider’s stock valued at $75,741,000 after purchasing an additional 63,366 shares during the period. Finally, State Street Corp boosted its stake in McGrath RentCorp by 2.2% during the third quarter. State Street Corp now owns 593,009 shares of the financial services provider’s stock worth $62,432,000 after buying an additional 12,520 shares during the period. Hedge funds and other institutional investors own 92.05% 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, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.