McGrath RentCorp (NASDAQ:MGRC) Insider Trease Kristina Van Sells 500 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC) insider Trease Kristina Van sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $116.01, for a total transaction of $58,005.00. Following the completion of the transaction, the insider now directly owns 8,915 shares of the company’s stock, valued at approximately $1,034,229.15. This trade represents a 5.31% 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.

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 Trading Up 0.5%

McGrath RentCorp stock 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 firm 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. The firm’s 50 day simple moving average is $109.43 and its 200 day simple moving average is $114.97.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.13. The firm had revenue of $195.42 million for 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%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 EPS. Research analysts forecast that McGrath RentCorp will post 6.18 earnings per share 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 is Thursday, July 17th. This represents a $1.94 dividend on an annualized basis and a yield of 1.70%. McGrath RentCorp’s payout ratio is 20.10%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MGRC. Eminence Capital LP bought a new position in shares of McGrath RentCorp during the fourth quarter valued at about $83,898,000. River Road Asset Management LLC boosted 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 acquiring an additional 649,567 shares during the period. Channing Capital Management LLC purchased a new stake in McGrath RentCorp during the 1st quarter valued at about $55,049,000. T. Rowe Price Investment Management Inc. grew its position 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 acquiring an additional 120,829 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in McGrath RentCorp in the 4th quarter worth approximately $13,179,000. 92.05% of the stock is owned by hedge funds and other 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.