McGrath RentCorp (MGRC) VP John Lieffrig Sells 1,284 Shares

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McGrath RentCorp (NASDAQ:MGRC) VP John Lieffrig sold 1,284 shares of McGrath RentCorp stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $54.43, for a total value of $69,888.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

McGrath RentCorp stock opened at $53.40 on Friday. McGrath RentCorp has a 52 week low of $42.98 and a 52 week high of $68.79. The stock has a market cap of $1.30 billion, a P/E ratio of 24.95, a PEG ratio of 1.83 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Tuesday, October 30th. The financial services provider reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.11. McGrath RentCorp had a return on equity of 12.61% and a net margin of 35.47%. The firm had revenue of $143.10 million during the quarter, compared to the consensus estimate of $139.87 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. Analysts expect that McGrath RentCorp will post 2.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Wednesday, October 17th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Tuesday, October 16th. McGrath RentCorp’s dividend payout ratio (DPR) is 63.55%.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of McGrath RentCorp by 10.7% during the third quarter. BlackRock Inc. now owns 2,425,019 shares of the financial services provider’s stock worth $132,091,000 after purchasing an additional 235,373 shares during the period. Renaissance Technologies LLC lifted its holdings in McGrath RentCorp by 6.9% in the second quarter. Renaissance Technologies LLC now owns 694,795 shares of the financial services provider’s stock valued at $43,960,000 after acquiring an additional 44,900 shares during the period. Northern Trust Corp lifted its holdings in McGrath RentCorp by 8.7% in the second quarter. Northern Trust Corp now owns 557,276 shares of the financial services provider’s stock valued at $35,259,000 after acquiring an additional 44,682 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in McGrath RentCorp by 5.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 193,654 shares of the financial services provider’s stock valued at $12,253,000 after acquiring an additional 10,182 shares during the period. Finally, Bank of America Corp DE lifted its holdings in McGrath RentCorp by 98.3% in the second quarter. Bank of America Corp DE now owns 191,691 shares of the financial services provider’s stock valued at $12,129,000 after acquiring an additional 95,013 shares during the period. 80.88% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on MGRC shares. Berenberg Bank started coverage on McGrath RentCorp in a report on Wednesday, September 19th. They set a “buy” rating and a $70.00 target price for the company. ValuEngine downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. BidaskClub raised McGrath RentCorp from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Finally, Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $61.00 target price for the company in a report on Friday, November 2nd.

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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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