McGrath RentCorp (NASDAQ:MGRC) VP David M. Whitney sold 500 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $40.12, for a total value of $20,060.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of McGrath RentCorp (MGRC) traded down 0.46% on Friday, reaching $40.69. The company’s stock had a trading volume of 150,898 shares. The firm has a 50 day moving average of $39.17 and a 200 day moving average of $35.39. McGrath RentCorp has a 52-week low of $29.27 and a 52-week high of $41.61. The company has a market cap of $976.28 million, a PE ratio of 23.26 and a beta of 0.96.
McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.10. The company had revenue of $109.58 million during the quarter, compared to the consensus estimate of $105.36 million. McGrath RentCorp had a net margin of 9.74% and a return on equity of 10.62%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. Analysts predict that McGrath RentCorp will post $1.88 earnings per share for the current year.
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A number of research analysts have commented on MGRC shares. Zacks Investment Research upgraded McGrath RentCorp from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Saturday, August 5th. BidaskClub upgraded McGrath RentCorp from a “sell” rating to a “hold” rating in a research report on Monday, July 24th.
Several large investors have recently made changes to their positions in MGRC. Teachers Advisors LLC increased its holdings in shares of McGrath RentCorp by 2.1% during the fourth quarter. Teachers Advisors LLC now owns 37,493 shares of the financial services provider’s stock worth $1,469,000 after buying an additional 759 shares in the last quarter. Strs Ohio increased its holdings in shares of McGrath RentCorp by 6.8% during the first quarter. Strs Ohio now owns 23,500 shares of the financial services provider’s stock worth $788,000 after buying an additional 1,500 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of McGrath RentCorp by 10.0% during the first quarter. Wells Fargo & Company MN now owns 17,656 shares of the financial services provider’s stock worth $593,000 after buying an additional 1,606 shares in the last quarter. Capital Fund Management S.A. acquired a new position in shares of McGrath RentCorp during the first quarter worth $410,000. Finally, BW Gestao de Investimentos Ltda. increased its holdings in shares of McGrath RentCorp by 6.8% during the first quarter. BW Gestao de Investimentos Ltda. now owns 18,325 shares of the financial services provider’s stock worth $615,000 after buying an additional 1,172 shares in the last quarter. Institutional investors own 82.54% of the company’s stock.
McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
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