McGrath RentCorp (NASDAQ:MGRC) Announces $0.44 Quarterly Dividend

McGrath RentCorp (NASDAQ:MGRC) announced a quarterly dividend on Wednesday, June 9th, Zacks reports. Investors of record on Friday, July 16th will be given a dividend of 0.435 per share by the financial services provider on Friday, July 30th. This represents a $1.74 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, July 15th.

McGrath RentCorp has increased its dividend by 58.0% over the last three years and has increased its dividend every year for the last 27 years.

MGRC traded up $1.04 during trading on Friday, hitting $84.19. The company had a trading volume of 13 shares, compared to its average volume of 87,524. The company has a market cap of $2.04 billion, a P/E ratio of 20.53, a PEG ratio of 2.14 and a beta of 1.01. McGrath RentCorp has a 1-year low of $49.37 and a 1-year high of $87.53. The stock has a 50-day moving average of $82.90.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Wednesday, April 28th. The financial services provider reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.06). The business had revenue of $121.20 million for the quarter, compared to analyst estimates of $127.96 million. McGrath RentCorp had a return on equity of 14.83% and a net margin of 17.58%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the company posted $0.81 earnings per share. On average, equities research analysts predict that McGrath RentCorp will post 3.98 EPS for the current year.

In related news, Director Elizabeth A. Fetter sold 1,000 shares of the stock in a transaction dated Wednesday, May 19th. The shares were sold at an average price of $82.88, for a total value of $82,880.00. Following the completion of the transaction, the director now owns 5,750 shares in the company, valued at approximately $476,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizabeth A. Fetter sold 750 shares of the company’s stock in a transaction dated Tuesday, May 25th. The shares were sold at an average price of $85.03, for a total transaction of $63,772.50. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $425,150. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Wednesday.

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, electronic test equipment and related accessories, and liquid and solid containment tanks and boxes. The company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

See Also: What is a Futures Contract?

Dividend History for McGrath RentCorp (NASDAQ:MGRC)

Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.com's FREE daily email newsletter.