McGrath RentCorp (NASDAQ:MGRC) Director Ronald H. Zech sold 4,000 shares of McGrath RentCorp stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the completion of the transaction, the director now directly owns 38,689 shares in the company, valued at approximately $2,495,053.61. The sale was disclosed in a document filed with the SEC, which is available at this link.
McGrath RentCorp traded down $0.48, reaching $63.95, during trading on Friday, according to Marketbeat.com. The company had a trading volume of 112,747 shares, compared to its average volume of 128,271. The stock has a market capitalization of $1.55 billion, a P/E ratio of 29.88, a P/E/G ratio of 2.36 and a beta of 0.82. McGrath RentCorp has a 12-month low of $32.09 and a 12-month high of $65.03.
McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Tuesday, May 1st. The financial services provider reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.12. The firm had revenue of $105.09 million for the quarter, compared to analysts’ expectations of $99.92 million. McGrath RentCorp had a return on equity of 11.81% and a net margin of 33.97%. McGrath RentCorp’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. equities analysts anticipate that McGrath RentCorp will post 2.73 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Monday, April 16th were paid a $0.34 dividend. The ex-dividend date was Friday, April 13th. This represents a $1.36 dividend on an annualized basis and a yield of 2.13%. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.26. McGrath RentCorp’s dividend payout ratio (DPR) is currently 63.55%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB acquired a new stake in McGrath RentCorp during the 1st quarter worth about $234,000. Element Capital Management LLC acquired a new stake in McGrath RentCorp during the 1st quarter worth about $200,000. Silvercrest Asset Management Group LLC boosted its position in McGrath RentCorp by 1.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 605,268 shares of the financial services provider’s stock worth $32,497,000 after acquiring an additional 5,924 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in McGrath RentCorp during the 1st quarter worth about $303,000. Finally, UBS Group AG boosted its position in McGrath RentCorp by 41.5% during the 1st quarter. UBS Group AG now owns 13,392 shares of the financial services provider’s stock worth $719,000 after acquiring an additional 3,931 shares during the period. 83.85% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on MGRC shares. BidaskClub raised McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 22nd. ValuEngine raised McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st.
About McGrath RentCorp
McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
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