John P. Skenesky Sells 1,423 Shares of McGrath RentCorp (MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) VP John P. Skenesky sold 1,423 shares of the company’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $55.75, for a total transaction of $79,332.25. Following the sale, the vice president now directly owns 1,716 shares of the company’s stock, valued at approximately $95,667. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NASDAQ MGRC traded down $0.28 during trading on Friday, hitting $55.68. 48,400 shares of the company’s stock were exchanged, compared to its average volume of 125,526. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 2.07 and a beta of 0.80. McGrath RentCorp has a fifty-two week low of $39.93 and a fifty-two week high of $68.79.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Tuesday, July 31st. The financial services provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The firm had revenue of $117.00 million during the quarter, compared to the consensus estimate of $112.69 million. McGrath RentCorp had a return on equity of 11.91% and a net margin of 34.37%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share. equities research analysts forecast that McGrath RentCorp will post 2.73 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of MGRC. SG Americas Securities LLC acquired a new position in shares of McGrath RentCorp in the first quarter valued at approximately $195,000. Schwab Charles Investment Management Inc. increased its stake in shares of McGrath RentCorp by 1.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 183,472 shares of the financial services provider’s stock valued at $9,851,000 after buying an additional 1,949 shares during the period. Virginia Retirement Systems ET AL acquired a new position in shares of McGrath RentCorp in the second quarter valued at approximately $791,000. Cavalier Investments LLC acquired a new position in shares of McGrath RentCorp in the second quarter valued at approximately $322,000. Finally, GSA Capital Partners LLP increased its stake in shares of McGrath RentCorp by 16.7% in the second quarter. GSA Capital Partners LLP now owns 19,140 shares of the financial services provider’s stock valued at $1,211,000 after buying an additional 2,732 shares during the period. 82.87% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on MGRC shares. BidaskClub downgraded McGrath RentCorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. Zacks Investment Research downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, ValuEngine downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Monday, July 30th.

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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