McGrath RentCorp (NASDAQ:MGRC) Director Dennis P. Stradford Sells 1,000 Shares | MarketBeat

2022-06-15 13:42:20 By : Ms. Carol Liu

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McGrath RentCorp (NASDAQ:MGRC - Get Rating) Director Dennis P. Stradford sold 1,000 shares of the company's stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $83.20, for a total value of $83,200.00. Following the completion of the sale, the director now owns 9,200 shares in the company, valued at $765,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

McGrath RentCorp stock traded down $0.40 during trading on Monday, hitting $82.60. The company's stock had a trading volume of 64,698 shares, compared to its average volume of 84,467. The stock's fifty day moving average is $83.36 and its 200 day moving average is $80.39. McGrath RentCorp has a 1-year low of $67.08 and a 1-year high of $91.37. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 2.04 and a beta of 0.79.

McGrath RentCorp (NASDAQ:MGRC - Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.57 by $0.20. The company had revenue of $145.37 million during the quarter, compared to analysts' expectations of $146.41 million. McGrath RentCorp had a return on equity of 12.65% and a net margin of 14.21%. The firm's revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. Equities research analysts forecast that McGrath RentCorp will post 4.06 EPS for the current fiscal year.

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Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of McGrath RentCorp from a "hold" rating to a "buy" rating and set a $92.00 price target on the stock in a research note on Wednesday, May 4th. lowered shares of McGrath RentCorp from a "buy" rating to a "hold" rating in a research report on Tuesday, May 31st.

Hedge funds have recently modified their holdings of the stock. DB Wealth Management Group LLC purchased a new position in McGrath RentCorp during the first quarter worth approximately $26,000. Lazard Asset Management LLC purchased a new position in shares of McGrath RentCorp in the 1st quarter worth $51,000. Pinebridge Investments L.P. acquired a new position in McGrath RentCorp in the fourth quarter valued at $80,000. Allspring Global Investments Holdings LLC purchased a new stake in McGrath RentCorp during the fourth quarter valued at about $122,000. Finally, PNC Financial Services Group Inc. acquired a new stake in McGrath RentCorp during the first quarter worth about $168,000. 92.27% of the stock is owned by hedge funds and other institutional investors.

About McGrath RentCorp (Get Rating)

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 related accessories, and liquid and solid containment tanks and boxes. The company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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