Trease Kristina Van Sells 2,221 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) insider Trease Kristina Van sold 2,221 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 6,694 shares in the company, valued at approximately $764,521.74. This trade represents a 24.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, June 4th, Trease Kristina Van sold 500 shares of McGrath RentCorp stock. The stock was sold at an average price of $116.01, for a total value of $58,005.00.

McGrath RentCorp Stock Up 0.5%

Shares of MGRC stock opened at $114.24 on Monday. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93. The stock’s 50-day moving average price is $109.43 and its 200 day moving average price is $114.92. The stock has a market capitalization of $2.81 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Thursday, April 24th. The financial services provider reported $1.15 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 company had revenue of $195.42 million during the quarter, compared to the consensus estimate of $189.03 million. During the same quarter last year, the company earned $0.93 earnings per share. McGrath RentCorp’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

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

Institutional Trading of McGrath RentCorp

Hedge funds have recently bought and sold shares of the company. Eminence Capital LP purchased a new stake in shares of McGrath RentCorp during the 4th quarter valued at $83,898,000. River Road Asset Management LLC grew its holdings in McGrath RentCorp by 52.1% during the 4th quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider’s stock valued at $212,116,000 after purchasing an additional 649,567 shares in the last quarter. Channing Capital Management LLC acquired a new stake in shares of McGrath RentCorp during the first quarter valued at about $55,049,000. T. Rowe Price Investment Management Inc. increased its holdings in McGrath RentCorp by 13.2% during the 1st 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 last quarter. Finally, Raymond James Financial Inc. purchased a new stake in McGrath RentCorp during the 4th quarter worth approximately $13,179,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

Wall Street Analyst Weigh In

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

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.