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

StockNews.com assumed coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a report released on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

McGrath RentCorp Trading Up 0.1 %

McGrath RentCorp stock opened at $122.39 on Wednesday. McGrath RentCorp has a 1-year low of $85.63 and a 1-year high of $130.86. The firm’s fifty day simple moving average is $122.96 and its 200-day simple moving average is $111.07. The company has a market capitalization of $3.00 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.73 and a beta of 0.80.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data 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 for 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, equities research analysts predict that McGrath RentCorp will post 5.42 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be issued a dividend of $0.475 per share. The ex-dividend date is Monday, April 15th. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.47. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.55%. McGrath RentCorp’s payout ratio is 26.12%.

Institutional Investors Weigh In On McGrath RentCorp

Several hedge funds and other institutional investors have recently modified their holdings of MGRC. Quadrature Capital Ltd bought a new stake in McGrath RentCorp in the 4th quarter valued at $367,000. Vanguard Group Inc. raised its position in shares of 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 last quarter. Wellington Management Group LLP raised its position in shares of McGrath RentCorp by 24.2% during the fourth quarter. Wellington Management Group LLP now owns 771,261 shares of the financial services provider’s stock valued at $92,258,000 after buying an additional 150,253 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of McGrath RentCorp by 54.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 76,737 shares of the financial services provider’s stock valued at $9,179,000 after buying an additional 27,002 shares during the period. Finally, Cim LLC acquired a new stake in McGrath RentCorp during the fourth quarter worth about $553,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

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, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.