McGrath RentCorp (NASDAQ:MGRC) CAO Sells $253,660.41 in Stock

McGrath RentCorp (NASDAQ:MGRC) CAO David M. Whitney sold 2,221 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $114.21, for a total value of $253,660.41. Following the completion of the sale, the chief accounting officer now directly owns 6,694 shares of the company’s stock, valued at $764,521.74. This represents a 24.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

McGrath RentCorp Trading Up 0.5%

MGRC opened at $114.24 on Friday. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.35 and a beta of 0.66. The business has a 50 day moving average of $109.43 and a 200-day moving average of $114.97.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Thursday, April 24th. The financial services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.02 by $0.13. The firm had revenue of $195.42 million during the quarter, compared to analysts’ expectations of $189.03 million. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. McGrath RentCorp’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.93 earnings per share. Equities analysts predict that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 17th will be given a $0.485 dividend. The ex-dividend date of this dividend is Thursday, July 17th. This represents a $1.94 annualized dividend and a yield of 1.70%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 20.10%.

Analyst Ratings Changes

Separately, Wall Street Zen raised McGrath RentCorp from a “hold” rating to a “buy” rating in a research report on Friday, April 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in McGrath RentCorp by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,726,133 shares of the financial services provider’s stock worth $304,836,000 after purchasing an additional 29,467 shares during the period. River Road Asset Management LLC lifted its position in McGrath RentCorp by 52.1% in the fourth quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider’s stock worth $212,116,000 after purchasing an additional 649,567 shares during the period. Franklin Resources Inc. lifted its position in McGrath RentCorp by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 1,199,169 shares of the financial services provider’s stock worth $134,091,000 after purchasing an additional 87,329 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in McGrath RentCorp by 13.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,038,460 shares of the financial services provider’s stock worth $115,685,000 after purchasing an additional 120,829 shares during the period. Finally, Eminence Capital LP lifted its position in McGrath RentCorp by 12.0% in the first quarter. Eminence Capital LP now owns 840,071 shares of the financial services provider’s stock worth $93,584,000 after purchasing an additional 89,773 shares during the period. 92.05% of the stock is owned by institutional investors.

About McGrath RentCorp

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, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.