McGrath RentCorp (NASDAQ:MGRC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a report issued on Friday morning. The brokerage issued a hold rating on the financial services provider’s stock.

McGrath RentCorp Price Performance

MGRC stock opened at $115.00 on Friday. The business has a fifty day moving average price of $123.43 and a 200 day moving average price of $112.81. McGrath RentCorp has a fifty-two week low of $85.97 and a fifty-two week high of $130.86. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 1.63 and a beta of 0.80.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.07). The business had revenue of $221.59 million for the quarter, compared to analyst estimates of $214.43 million. McGrath RentCorp had a net margin of 20.99% and a return on equity of 13.63%. On average, equities analysts expect that McGrath RentCorp will post 5.42 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 1.65%. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, April 15th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 26.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its position 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 valued at $2,987,000 after buying an additional 90 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of McGrath RentCorp by 1.0% in the 4th quarter. Voya Investment Management LLC now owns 9,990 shares of the financial services provider’s stock worth $1,195,000 after purchasing an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in shares of McGrath RentCorp by 1.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 9,607 shares of the financial services provider’s stock worth $1,149,000 after purchasing an additional 100 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of McGrath RentCorp by 1.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 7,565 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 111 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of McGrath RentCorp by 1.7% in the 3rd quarter. Arizona State Retirement System now owns 6,969 shares of the financial services provider’s stock worth $699,000 after purchasing an additional 118 shares during the last quarter. 92.05% of the stock is currently owned by 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.