David M. Whitney Sells 500 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) CAO David M. Whitney sold 500 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $1,034,229.15. The trade was a 5.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

McGrath RentCorp Price Performance

Shares of MGRC stock opened at $114.24 on Friday. The stock 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 one year low of $95.50 and a one year high of $129.93. The stock has a fifty day moving average price of $109.43 and a 200 day moving average price of $114.95.

McGrath RentCorp (NASDAQ:MGRC) 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 firm 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 quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.93 earnings per share. Equities research analysts anticipate that McGrath RentCorp will post 6.18 EPS 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 annualized dividend and a yield of 1.70%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 20.10%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday, April 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC lifted its holdings in shares of McGrath RentCorp by 3.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,602 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 86 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of McGrath RentCorp by 3.9% during the first quarter. Hsbc Holdings PLC now owns 4,117 shares of the financial services provider’s stock valued at $460,000 after acquiring an additional 153 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of McGrath RentCorp by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,553 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 162 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of McGrath RentCorp by 9.1% during the first quarter. Nisa Investment Advisors LLC now owns 2,093 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 174 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of McGrath RentCorp by 1.8% during the fourth quarter. Sei Investments Co. now owns 10,575 shares of the financial services provider’s stock valued at $1,182,000 after acquiring an additional 184 shares during the period. 92.05% of the stock is owned by 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.