Insider Selling: McGrath RentCorp (NASDAQ:MGRC) VP Sells 3,310 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC) VP Philip B. Hawkins sold 3,310 shares of McGrath RentCorp stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $65.54, for a total transaction of $216,937.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

McGrath RentCorp stock traded up $1.68 during trading hours on Wednesday, hitting $66.71. 89,603 shares of the stock traded hands, compared to its average volume of 100,888. McGrath RentCorp has a one year low of $45.85 and a one year high of $70.88. The firm’s 50-day moving average price is $65.25 and its two-hundred day moving average price is $61.15. The company has a market cap of $1.58 billion, a PE ratio of 21.31, a PEG ratio of 1.86 and a beta of 0.80.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. The firm had revenue of $127.40 million during the quarter, compared to analyst estimates of $123.45 million. McGrath RentCorp had a return on equity of 15.13% and a net margin of 16.54%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 EPS. On average, equities research analysts predict that McGrath RentCorp will post 3.51 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGRC. Meeder Asset Management Inc. bought a new stake in McGrath RentCorp during the second quarter worth about $44,000. Krane Funds Advisors LLC purchased a new position in shares of McGrath RentCorp during the second quarter valued at approximately $61,000. Denali Advisors LLC bought a new stake in shares of McGrath RentCorp in the 2nd quarter worth approximately $106,000. Bank of Montreal Can boosted its position in shares of McGrath RentCorp by 1,015.0% in the 2nd quarter. Bank of Montreal Can now owns 2,230 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 2,030 shares in the last quarter. Finally, Aperio Group LLC purchased a new stake in shares of McGrath RentCorp in the 2nd quarter worth approximately $149,000. Institutional investors own 85.55% of the company’s stock.

Several research analysts have commented on MGRC shares. Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Friday, August 2nd. BidaskClub cut shares of McGrath RentCorp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Finally, Sidoti lifted their target price on shares of McGrath RentCorp from $78.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $76.33.

McGrath RentCorp Company Profile

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, electronic test equipment, and liquid and solid containment tanks and boxes. The company operates in four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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Insider Buying and Selling by Quarter for McGrath RentCorp (NASDAQ:MGRC)

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