McGrath RentCorp (NASDAQ:MGRC) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a research note released on Friday morning. The firm issued a hold rating on the financial services provider’s stock.

McGrath RentCorp Stock Down 1.3 %

NASDAQ:MGRC opened at $113.00 on Friday. The company has a fifty day moving average of $123.14 and a 200-day moving average of $112.89. The firm has a market capitalization of $2.77 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.63 and a beta of 0.80. McGrath RentCorp has a twelve month low of $85.97 and a twelve month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, February 21st. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.07). The firm had revenue of $221.59 million during the quarter, compared to the consensus estimate of $214.43 million. McGrath RentCorp had a return on equity of 13.63% and a net margin of 20.99%. On average, analysts anticipate that McGrath RentCorp will post 5.42 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.68%. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, April 15th. McGrath RentCorp’s dividend payout ratio is 26.69%.

Institutional Trading of McGrath RentCorp

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in McGrath RentCorp by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 2,691,278 shares of the financial services provider’s stock valued at $321,931,000 after buying an additional 11,280 shares during the period. BlackRock Inc. increased its holdings in McGrath RentCorp by 2.5% in the 2nd quarter. BlackRock Inc. now owns 2,190,395 shares of the financial services provider’s stock worth $202,568,000 after buying an additional 52,813 shares in the last quarter. Wellington Management Group LLP boosted its position in McGrath RentCorp by 24.2% in the fourth quarter. Wellington Management Group LLP now owns 771,261 shares of the financial services provider’s stock worth $92,258,000 after purchasing an additional 150,253 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in McGrath RentCorp by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 643,089 shares of the financial services provider’s stock worth $63,499,000 after purchasing an additional 47,834 shares during the last quarter. Finally, State Street Corp lifted its position in shares of McGrath RentCorp by 1.1% during the 2nd quarter. State Street Corp now owns 533,952 shares of the financial services provider’s stock valued at $49,380,000 after buying an additional 5,859 shares in the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.

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.