McGrath RentCorp (NASDAQ:MGRC) Sees Strong Trading Volume – Time to Buy?

McGrath RentCorp (NASDAQ:MGRC) shares saw an uptick in trading volume on Monday . 149,836 shares traded hands during trading, a decline of 1% from the previous session’s volume of 150,954 shares.The stock last traded at $108.04 and had previously closed at $107.53.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Zacks Research upgraded McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 15th. Barclays started coverage on McGrath RentCorp in a research note on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of McGrath RentCorp in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.50.

McGrath RentCorp Trading Up 0.6%

The stock has a 50-day simple moving average of $111.58 and a 200 day simple moving average of $110.31. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.06 and a beta of 0.49.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.28. The company had revenue of $256.76 million during the quarter, compared to analyst estimates of $254.32 million. McGrath RentCorp had a net margin of 16.55% and a return on equity of 13.21%. As a group, research analysts forecast that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, April 16th. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.49. McGrath RentCorp’s dividend payout ratio (DPR) is 30.55%.

Institutional Trading of McGrath RentCorp

A number of hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new position in McGrath RentCorp during the third quarter valued at approximately $29,000. Cullen Frost Bankers Inc. acquired a new stake in shares of McGrath RentCorp during the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of McGrath RentCorp by 767.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Danske Bank A S acquired a new position in shares of McGrath RentCorp in the 3rd quarter valued at $47,000. Finally, Strs Ohio acquired a new position in shares of McGrath RentCorp in the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Company Profile

McGrath RentCorp, through its subsidiaries, provides rental, sales, and servicing of equipment for commercial, industrial, environmental, and residential markets. The company operates primarily through two segments—mobile storage and water management—offering flexible solutions for customers requiring on-site storage, water transport, treatment, and dewatering services.

In its mobile storage segment, McGrath RentCorp supplies portable storage containers and modular office units to sectors including construction, retail, government, and disaster restoration.