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

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) insider Trease Kristina Van sold 2,221 shares of the company's stock in a transaction dated Friday, June 6th. The stock was 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 of the company's stock, valued at approximately $764,521.74. This trade represents a 24.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 transaction of $58,005.00.

McGrath RentCorp Trading Up 0.5%

Shares of NASDAQ:MGRC traded up $0.62 during mid-day trading on Friday, reaching $114.24. The stock had a trading volume of 140,135 shares, compared to its average volume of 183,599. The company has a market cap 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 has a 1 year low of $95.50 and a 1 year high of $129.93. The business'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 issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (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 for the quarter, compared to the consensus estimate of $189.03 million. During the same period in the prior year, the business posted $0.93 earnings per share. The company's quarterly revenue was up 4.0% compared to the same quarter last year. Analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend 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 (DPR) is presently 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 Investors Weigh In On McGrath RentCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atala Financial Inc bought a new position in shares of McGrath RentCorp during the fourth quarter valued at approximately $31,000. New Age Alpha Advisors LLC bought a new position in shares of McGrath RentCorp during the fourth quarter valued at approximately $33,000. Strs Ohio bought a new position in shares of McGrath RentCorp during the first quarter valued at approximately $56,000. Canada Pension Plan Investment Board bought a new position in shares of McGrath RentCorp during the fourth quarter valued at approximately $89,000. Finally, KBC Group NV grew its stake in shares of 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 buying an additional 286 shares during the last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.