McGrath RentCorp (NASDAQ:MGRC) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of McGrath RentCorp (NASDAQ:MGRC) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Other analysts have also issued reports about the company. Oppenheimer lifted their target price on McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. CJS Securities started coverage on McGrath RentCorp in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 price target for the company.

McGrath RentCorp Stock Performance

Shares of NASDAQ MGRC opened at $127.18 on Thursday. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $129.93. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.35 and a beta of 0.77. The stock’s 50-day simple moving average is $117.93 and its 200-day simple moving average is $113.12.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The business had revenue of $243.75 million for the quarter, compared to analyst estimates of $246.93 million. As a group, research analysts predict that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 1.53%. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, April 16th. McGrath RentCorp’s dividend payout ratio (DPR) is 20.15%.

Insider Buying and Selling

In other McGrath RentCorp news, VP Gilda Malek sold 919 shares of McGrath RentCorp stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.78, for a total value of $111,915.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On McGrath RentCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Atala Financial Inc bought a new stake in shares of McGrath RentCorp during the fourth quarter valued at approximately $31,000. New Age Alpha Advisors LLC bought a new stake in shares of McGrath RentCorp during the fourth quarter valued at approximately $33,000. KBC Group NV raised its holdings in shares of McGrath RentCorp by 32.5% during the third quarter. KBC Group NV now owns 767 shares of the financial services provider’s stock valued at $81,000 after buying an additional 188 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of McGrath RentCorp during the fourth quarter valued at approximately $89,000. Finally, Covestor Ltd raised its holdings in shares of McGrath RentCorp by 15.8% during the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock valued at $125,000 after buying an additional 161 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

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.