McGrath RentCorp (NASDAQ:MGRC) Insider Sells $58,005.00 in Stock

McGrath RentCorp (NASDAQ:MGRC) insider Trease Kristina Van sold 500 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $116.01, for a total value of $58,005.00. Following the sale, the insider now directly owns 8,915 shares in the company, valued at approximately $1,034,229.15. This represents a 5.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Trease Kristina Van also recently made the following trade(s):

• On Friday, June 6th, Trease Kristina Van sold 2,221 shares of McGrath RentCorp stock. The stock was sold at an average price of $114.21, for a total value of $253,660.41.

McGrath RentCorp Stock Performance

Shares of McGrath RentCorp stock opened at $114.24 on Monday. The business’s 50 day simple moving average is $109.43 and its 200 day simple moving average is $114.92. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93. The firm has a market cap of $2.81 billion, a PE ratio of 12.11, a P/E/G ratio of 1.35 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.13. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The business had revenue of $195.42 million for the quarter, compared to analyst estimates of $189.03 million. During the same quarter last year, the firm earned $0.93 EPS. McGrath RentCorp’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research 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. This represents a $1.94 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, July 17th. McGrath RentCorp’s dividend payout ratio is presently 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 Investors Weigh In On McGrath RentCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of MGRC. Barclays PLC raised its position in McGrath RentCorp by 351.6% in the 3rd quarter. Barclays PLC now owns 40,555 shares of the financial services provider’s stock valued at $4,269,000 after buying an additional 31,575 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in McGrath RentCorp by 4.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,342 shares of the financial services provider’s stock valued at $933,000 after purchasing an additional 357 shares in the last quarter. KBC Group NV grew its stake in McGrath RentCorp by 37.3% in the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 286 shares in the last quarter. Jennison Associates LLC bought a new position in McGrath RentCorp in the fourth quarter valued at approximately $1,520,000. Finally, Allspring Global Investments Holdings LLC grew its stake in McGrath RentCorp by 1,487.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,826 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 2,648 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

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