McGrath RentCorp (MGRC) Plans $0.34 Quarterly Dividend

McGrath RentCorp (NASDAQ:MGRC) declared a quarterly dividend on Thursday, December 6th, Wall Street Journal reports. Investors of record on Thursday, January 17th will be paid a dividend of 0.34 per share by the financial services provider on Thursday, January 31st. This represents a $1.36 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, January 16th.

Shares of NASDAQ MGRC opened at $52.51 on Friday. McGrath RentCorp has a fifty-two week low of $42.98 and a fifty-two week high of $68.79. The company has a market capitalization of $1.25 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.72.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Tuesday, October 30th. The financial services provider reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.11. The company had revenue of $143.10 million for the quarter, compared to analyst estimates of $139.87 million. McGrath RentCorp had a net margin of 35.47% and a return on equity of 12.61%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. Equities analysts predict that McGrath RentCorp will post 2.95 EPS for the current fiscal year.

In other McGrath RentCorp news, VP Keith E. Pratt sold 1,841 shares of the stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $53.00, for a total value of $97,573.00. Following the sale, the vice president now directly owns 25,382 shares in the company, valued at $1,345,246. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John Lieffrig sold 1,284 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $54.43, for a total transaction of $69,888.12. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a report on Friday, November 2nd. BidaskClub upgraded shares of McGrath RentCorp from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Berenberg Bank assumed coverage on shares of McGrath RentCorp in a report on Wednesday, September 19th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, ValuEngine lowered shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th.

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About McGrath RentCorp

McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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Dividend History for McGrath RentCorp (NASDAQ:MGRC)

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