Inspire Investing LLC grew its holdings in shares of McGrath RentCorp (NASDAQ:MGRC – Free Report) by 17.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,901 shares of the financial services provider’s stock after buying an additional 577 shares during the period. Inspire Investing LLC’s holdings in McGrath RentCorp were worth $411,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. SG Americas Securities LLC acquired a new position in McGrath RentCorp during the first quarter worth about $171,000. TFG Advisers LLC purchased a new stake in shares of McGrath RentCorp in the first quarter valued at approximately $203,000. J.W. Cole Advisors Inc. acquired a new stake in shares of McGrath RentCorp in the first quarter valued at approximately $210,000. Meeder Asset Management Inc. purchased a new position in McGrath RentCorp during the first quarter worth approximately $213,000. Finally, Aristides Capital LLC acquired a new position in McGrath RentCorp during the first quarter worth $239,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.
McGrath RentCorp Stock Performance
MGRC opened at $107.81 on Friday. The stock has a market capitalization of $2.65 billion, a PE ratio of 21.02, a P/E/G ratio of 1.85 and a beta of 0.75. McGrath RentCorp has a one year low of $95.50 and a one year high of $130.86. The business’s 50 day moving average price is $105.37 and its 200 day moving average price is $107.95.
McGrath RentCorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, October 17th. McGrath RentCorp’s dividend payout ratio is presently 37.04%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Oppenheimer began coverage on McGrath RentCorp in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $120.00 target price for the company. StockNews.com cut shares of McGrath RentCorp from a “hold” rating to a “sell” rating in a research report on Friday, September 27th.
Get Our Latest Analysis on McGrath RentCorp
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.
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