McGrath RentCorp (NASDAQ:MGRC) Upgraded at StockNews.com

StockNews.com upgraded shares of McGrath RentCorp (NASDAQ:MGRC) from a sell rating to a hold rating in a research note published on Thursday.

McGrath RentCorp Trading Up 0.1 %

McGrath RentCorp stock opened at $99.30 on Thursday. The stock has a market cap of $2.44 billion, a PE ratio of 19.36, a P/E/G ratio of 1.46 and a beta of 0.76. The stock has a 50-day moving average price of $105.98 and a 200 day moving average price of $109.75. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.41). The company had revenue of $212.60 million for the quarter, compared to analysts’ expectations of $210.23 million. McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. On average, equities analysts predict that McGrath RentCorp will post 5.45 EPS for the current year.

McGrath RentCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, October 17th. McGrath RentCorp’s payout ratio is 37.04%.

Institutional Trading of McGrath RentCorp

A number of hedge funds have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH boosted its stake in McGrath RentCorp by 0.4% in the 4th quarter. Allianz Asset Management GmbH now owns 24,967 shares of the financial services provider’s stock worth $2,987,000 after buying an additional 90 shares during the last quarter. Sei Investments Co. boosted its stake in McGrath RentCorp by 2.9% in the 1st quarter. Sei Investments Co. now owns 4,473 shares of the financial services provider’s stock worth $552,000 after buying an additional 126 shares during the last quarter. Arizona State Retirement System boosted its stake in McGrath RentCorp by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 6,871 shares of the financial services provider’s stock worth $732,000 after buying an additional 141 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in McGrath RentCorp by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,397 shares of the financial services provider’s stock worth $1,108,000 after buying an additional 185 shares during the last quarter. Finally, Cim LLC boosted its stake in McGrath RentCorp by 4.6% in the 2nd quarter. Cim LLC now owns 4,636 shares of the financial services provider’s stock worth $475,000 after buying an additional 205 shares during the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

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.