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

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) insider Trease Kristina Van sold 500 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $116.01, for a total value of $58,005.00. Following the completion of the sale, the insider now directly owns 8,915 shares of the company's stock, valued at approximately $1,034,229.15. The trade was a 5.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 shares were sold at an average price of $114.21, for a total transaction of $253,660.41.

McGrath RentCorp Trading Up 0.5%

Shares of NASDAQ:MGRC traded up $0.62 during trading on Friday, reaching $114.24. The company had a trading volume of 140,135 shares, compared to its average volume of 183,599. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The company has a fifty day moving average of $109.40 and a two-hundred day moving average of $115.00. The stock has a market capitalization of $2.81 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced 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. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. 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 company posted $0.93 EPS. The firm'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 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be paid a dividend of $0.485 per share. 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 dividend payout ratio is currently 20.10%.

Institutional Trading of McGrath RentCorp

A number of large investors have recently made changes to their positions in MGRC. Atala Financial Inc purchased a new position in shares of McGrath RentCorp in the fourth quarter worth approximately $31,000. New Age Alpha Advisors LLC purchased a new position in shares of McGrath RentCorp in the fourth quarter worth $33,000. Strs Ohio purchased a new stake in McGrath RentCorp during the first quarter valued at $56,000. Canada Pension Plan Investment Board purchased a new stake in McGrath RentCorp during the fourth quarter valued at $89,000. Finally, KBC Group NV raised its stake in McGrath RentCorp by 37.3% during 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. 92.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a research report 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.

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