Key Points
- SVP Gilda Malek sold 829 shares on December 15 at an average price of $107.29 for a total of $88,943.41, reducing her position by 16.93% to 4,068 shares; the transaction was disclosed in an SEC filing.
- McGrath RentCorp missed recent quarterly estimates (EPS $1.72 vs. $1.83 expected; revenue $256.44M vs. $266.62M, down 3.9% YoY), yet pays a quarterly dividend of $0.485 (annualized $1.94, yield 1.8%) and holds a consensus Moderate Buy with a $143 price target after Oppenheimer's upgrade to "outperform."
McGrath RentCorp (NASDAQ:MGRC - Get Free Report) SVP Gilda Malek sold 829 shares of the firm's stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $107.29, for a total value of $88,943.41. Following the completion of the transaction, the senior vice president owned 4,068 shares of the company's stock, valued at approximately $436,455.72. The trade was a 16.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
McGrath RentCorp Price Performance
Shares of NASDAQ MGRC opened at $107.54 on Wednesday. The stock has a market cap of $2.65 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.14 and a beta of 0.51. The firm has a 50-day moving average of $107.87 and a 200 day moving average of $115.11. McGrath RentCorp has a 1 year low of $94.99 and a 1 year high of $129.93.
McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.72 earnings per share for the quarter, missing analysts' consensus estimates of $1.83 by ($0.11). The company had revenue of $256.44 million for the quarter, compared to the consensus estimate of $266.62 million. McGrath RentCorp had a net margin of 15.62% and a return on equity of 12.59%. The firm's quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $1.87 EPS. Research analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.
McGrath RentCorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, January 16th. McGrath RentCorp's dividend payout ratio (DPR) is currently 32.83%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the company. Oppenheimer boosted their price target on McGrath RentCorp from $139.00 to $143.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Weiss Ratings lowered McGrath RentCorp from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $143.00.
Read Our Latest Stock Analysis on McGrath RentCorp
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in shares of McGrath RentCorp in the 3rd quarter worth approximately $29,000. Cullen Frost Bankers Inc. bought a new stake in McGrath RentCorp during the third quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its holdings in McGrath RentCorp by 767.7% during the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider's stock valued at $31,000 after buying an additional 238 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in McGrath RentCorp in the second quarter worth approximately $37,000. Finally, Danske Bank A S bought a new position in McGrath RentCorp in the third quarter worth approximately $47,000. Institutional investors own 92.05% of the company's stock.
About McGrath RentCorp
(
Get Free Report)
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.
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