David M. Whitney Sells 2,221 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) CAO David M. Whitney sold 2,221 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 6,694 shares of the company's stock, valued at $764,521.74. This trade represents a 24.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

McGrath RentCorp Trading Up 1.6%

Shares of McGrath RentCorp stock traded up $1.88 on Monday, reaching $116.12. 176,304 shares of the company were exchanged, compared to its average volume of 183,993. The stock has a fifty day moving average price of $109.43 and a 200-day moving average price of $114.92. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.02 by $0.13. The business had revenue of $195.42 million during 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%. McGrath RentCorp's revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. On average, equities analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be issued a dividend of $0.485 per share. The ex-dividend date is Thursday, July 17th. This represents a $1.94 annualized dividend and a dividend yield of 1.67%. McGrath RentCorp's dividend payout ratio is 20.10%.

Institutional Investors Weigh In On McGrath RentCorp

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in McGrath RentCorp by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,726,133 shares of the financial services provider's stock worth $304,836,000 after purchasing an additional 29,467 shares during the last quarter. River Road Asset Management LLC lifted its holdings in shares of McGrath RentCorp by 52.1% during the fourth quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider's stock worth $212,116,000 after buying an additional 649,567 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of McGrath RentCorp by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 1,199,169 shares of the financial services provider's stock worth $134,091,000 after buying an additional 87,329 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of McGrath RentCorp by 13.2% during the first 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 buying an additional 120,829 shares during the last quarter. Finally, Eminence Capital LP lifted its holdings in shares of McGrath RentCorp by 12.0% during the first quarter. Eminence Capital LP now owns 840,071 shares of the financial services provider's stock worth $93,584,000 after buying an additional 89,773 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.