McGrath RentCorp (NASDAQ:MGRC) VP John P. Skenesky Sells 5,000 Shares

McGrath RentCorp (NASDAQ:MGRC) VP John P. Skenesky sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $114.86, for a total transaction of $574,300.00. Following the completion of the sale, the vice president now owns 8,711 shares of the company’s stock, valued at $1,000,545.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

McGrath RentCorp Stock Performance

McGrath RentCorp stock opened at $115.36 on Friday. The company has a 50-day simple moving average of $106.73 and a 200-day simple moving average of $107.36. The firm has a market capitalization of $2.83 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.64 and a beta of 0.75. McGrath RentCorp has a one year low of $95.50 and a one year high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.48. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The firm had revenue of $266.76 million during the quarter, compared to analyst estimates of $227.76 million. During the same quarter in the prior year, the firm posted $1.65 EPS. McGrath RentCorp’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that McGrath RentCorp will post 5.5 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Thursday, October 17th. McGrath RentCorp’s dividend payout ratio is presently 20.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Oppenheimer boosted their target price on shares of McGrath RentCorp from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th.

Institutional Trading of McGrath RentCorp

Hedge funds have recently bought and sold shares of the company. Swedbank AB lifted its stake in shares of McGrath RentCorp by 66.7% in the second quarter. Swedbank AB now owns 200,000 shares of the financial services provider’s stock worth $21,310,000 after buying an additional 80,000 shares during the last quarter. Quantbot Technologies LP bought a new position in McGrath RentCorp in the 1st quarter valued at $1,008,000. Vaughan Nelson Investment Management L.P. lifted its position in McGrath RentCorp by 26.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 486,190 shares of the financial services provider’s stock worth $51,803,000 after buying an additional 100,210 shares in the last quarter. Gabelli Funds LLC lifted its position in McGrath RentCorp by 297.8% during the 1st quarter. Gabelli Funds LLC now owns 59,670 shares of the financial services provider’s stock worth $7,361,000 after buying an additional 44,670 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in McGrath RentCorp during the 2nd quarter worth about $1,064,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

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.