McGrath RentCorp (NASDAQ:MGRC) VP Keith E. Pratt sold 1,213 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $46.52, for a total transaction of $56,428.76. Following the completion of the transaction, the vice president now owns 25,382 shares in the company, valued at approximately $1,180,770.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
McGrath RentCorp (NASDAQ:MGRC) traded up $0.25 during mid-day trading on Thursday, reaching $46.72. 42,400 shares of the company’s stock traded hands, compared to its average volume of 74,205. The company has a market capitalization of $1,116.77, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.99. McGrath RentCorp has a 12 month low of $32.09 and a 12 month high of $49.66.
McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Tuesday, October 31st. The financial services provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.12. The company had revenue of $135.39 million during the quarter, compared to the consensus estimate of $124.90 million. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. equities research analysts forecast that McGrath RentCorp will post 2.04 earnings per share for the current year.
MGRC has been the topic of several research reports. Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a research note on Friday, November 3rd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of McGrath RentCorp in a research note on Wednesday, November 1st. Finally, BidaskClub upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th.
A number of hedge funds have recently bought and sold shares of MGRC. Vanguard Group Inc. grew its position in McGrath RentCorp by 17.0% in the first quarter. Vanguard Group Inc. now owns 2,093,570 shares of the financial services provider’s stock worth $70,282,000 after acquiring an additional 304,573 shares in the last quarter. Chartwell Investment Partners LLC bought a new stake in McGrath RentCorp in the second quarter worth approximately $3,858,000. HCSF Management LLC grew its position in McGrath RentCorp by 36.9% in the second quarter. HCSF Management LLC now owns 387,830 shares of the financial services provider’s stock worth $13,431,000 after acquiring an additional 104,610 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in McGrath RentCorp by 4.2% in the second quarter. Deprince Race & Zollo Inc. now owns 1,119,041 shares of the financial services provider’s stock worth $38,752,000 after acquiring an additional 45,353 shares in the last quarter. Finally, SG Capital Management LLC bought a new stake in McGrath RentCorp in the third quarter worth approximately $1,934,000. 82.53% of the stock is owned by institutional investors.
About McGrath RentCorp
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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