McGrath RentCorp (NASDAQ:MGRC) Hits New 12-Month Low at $95.50

McGrath RentCorp (NASDAQ:MGRC) shares reached a new 52-week low on Wednesday . The company traded as low as $95.50 and last traded at $99.25, with a volume of 196599 shares trading hands. The stock had previously closed at $102.19.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Thursday.

McGrath RentCorp Trading Up 0.2 %

The firm has a market cap of $2.44 billion, a PE ratio of 19.34, a PEG ratio of 1.46 and a beta of 0.76. The firm’s 50 day simple moving average is $106.17 and its 200 day simple moving average is $110.02.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.41). The company had revenue of $212.60 million during 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 firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. As a group, equities research analysts predict that McGrath RentCorp will post 5.45 earnings per share for the current fiscal year.

McGrath RentCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, October 17th. McGrath RentCorp’s dividend payout ratio is 37.04%.

Institutional Trading of McGrath RentCorp

Several hedge funds have recently made changes to their positions in MGRC. SG Americas Securities LLC purchased a new stake in shares of McGrath RentCorp during the 1st quarter valued at about $171,000. TFG Advisers LLC purchased a new stake in shares of McGrath RentCorp during the 1st quarter valued at about $203,000. J.W. Cole Advisors Inc. purchased a new stake in shares of McGrath RentCorp during the 1st quarter valued at about $210,000. Meeder Asset Management Inc. purchased a new stake in shares of McGrath RentCorp during the 1st quarter valued at about $213,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of McGrath RentCorp during the 4th quarter valued at about $217,000. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

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.