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

McGrath RentCorp (NASDAQ:MGRC) VP John Lieffrig sold 1,284 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $54.43, for a total transaction of $69,888.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of NASDAQ:MGRC traded down $0.50 during trading hours on Friday, reaching $53.26. The stock had a trading volume of 5,262 shares, compared to its average volume of 115,269. McGrath RentCorp has a 1 year low of $42.98 and a 1 year high of $68.79. The company has a market cap of $1.28 billion, a PE ratio of 24.86, a P/E/G ratio of 1.80 and a beta of 0.75.

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

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Tuesday, October 16th. McGrath RentCorp’s dividend payout ratio is presently 63.55%.

A number of equities research analysts have issued reports on MGRC shares. BidaskClub lowered shares of McGrath RentCorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. ValuEngine lowered shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Berenberg Bank started coverage on shares of McGrath RentCorp in a report on Wednesday, September 19th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a report on Friday, November 2nd.

Several large investors have recently made changes to their positions in MGRC. UBS Group AG increased its position in shares of McGrath RentCorp by 41.5% in the 1st quarter. UBS Group AG now owns 13,392 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 3,931 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of McGrath RentCorp in the 1st quarter valued at $234,000. Allianz Asset Management GmbH grew its position in shares of McGrath RentCorp by 7.2% in the 1st quarter. Allianz Asset Management GmbH now owns 75,673 shares of the financial services provider’s stock valued at $4,063,000 after buying an additional 5,068 shares during the last quarter. Amalgamated Bank purchased a new position in shares of McGrath RentCorp in the 2nd quarter valued at $233,000. Finally, James Investment Research Inc. purchased a new position in shares of McGrath RentCorp in the 2nd quarter valued at $1,978,000. 80.88% of the stock is currently owned by institutional investors.

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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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