Insider Selling: McGrath RentCorp (NASDAQ:MGRC) CAO Sells 500 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) CAO David M. Whitney sold 500 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $116.01, for a total value of $58,005.00. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $1,034,229.15. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

McGrath RentCorp Price Performance

McGrath RentCorp stock traded up $0.62 during trading hours on Friday, hitting $114.24. 140,135 shares of the stock traded hands, compared to its average volume of 183,599. 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 firm's 50 day moving average price is $109.40 and its 200-day moving average price is $115.00.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced 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 business had revenue of $195.42 million during the quarter, compared to analysts' expectations of $189.03 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. Research analysts forecast 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 paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, July 17th. McGrath RentCorp's payout ratio is currently 20.10%.

Wall Street Analyst Weigh In

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

Institutional Trading of McGrath RentCorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings in McGrath RentCorp by 3.8% in the 1st quarter. Rhumbline Advisers now owns 46,273 shares of the financial services provider's stock valued at $5,155,000 after purchasing an additional 1,692 shares in the last quarter. Strs Ohio purchased a new stake in shares of McGrath RentCorp during the 1st quarter valued at $56,000. Intech Investment Management LLC boosted its position in McGrath RentCorp by 24.8% during the 1st quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider's stock worth $1,537,000 after purchasing an additional 2,745 shares during the period. Focus Partners Wealth boosted its position in McGrath RentCorp by 68.6% during the 1st quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider's stock worth $228,000 after purchasing an additional 832 shares during the period. Finally, Jane Street Group LLC boosted its position in McGrath RentCorp by 2,213.6% in the 1st quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider's stock valued at $6,477,000 after buying an additional 55,627 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

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.

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