Shares of McGrath RentCorp (NASDAQ:MGRC) have received an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation. McGrath RentCorp’s rating score has declined by 28.8% from 90 days ago as a result of a number of analysts’ ratings changes.
Zacks has also given McGrath RentCorp an industry rank of 15 out of 265 based on the ratings given to related companies.
MGRC has been the topic of a number of analyst reports. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of McGrath RentCorp in a report on Wednesday, November 1st. Zacks Investment Research raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Saturday, August 5th. Finally, BidaskClub raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th.
Shares of McGrath RentCorp (MGRC) opened at $46.30 on Monday. The firm has a market cap of $1,112.69, a P/E ratio of 24.37, a P/E/G ratio of 2.27 and a beta of 0.99. McGrath RentCorp has a twelve month low of $32.09 and a twelve month high of $49.66.
McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. The business had revenue of $135.39 million for the quarter, compared to analyst estimates of $124.90 million. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. McGrath RentCorp’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. equities analysts predict that McGrath RentCorp will post 2.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 17th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, October 16th. This represents a $1.04 dividend on an annualized basis and a yield of 2.25%. McGrath RentCorp’s dividend payout ratio is presently 54.74%.
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In other news, Director Dennis P. Stradford sold 3,900 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $49.41, for a total value of $192,699.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $247,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith E. Pratt sold 1,412 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $46.01, for a total transaction of $64,966.12. Following the completion of the sale, the chief financial officer now directly owns 28,118 shares of the company’s stock, valued at approximately $1,293,709.18. The disclosure for this sale can be found here. In the last three months, insiders sold 15,389 shares of company stock valued at $677,453. Corporate insiders own 4.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in MGRC. Teachers Advisors LLC boosted its stake in shares of McGrath RentCorp by 3.5% in the 1st quarter. Teachers Advisors LLC now owns 38,817 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 1,324 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of McGrath RentCorp by 0.6% in the 1st quarter. California Public Employees Retirement System now owns 53,200 shares of the financial services provider’s stock valued at $1,786,000 after purchasing an additional 300 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of McGrath RentCorp by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 2,093,570 shares of the financial services provider’s stock valued at $70,282,000 after purchasing an additional 304,573 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of McGrath RentCorp by 6.7% in the 1st quarter. Geode Capital Management LLC now owns 196,761 shares of the financial services provider’s stock valued at $6,605,000 after purchasing an additional 12,377 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of McGrath RentCorp by 8.1% in the 1st quarter. Morgan Stanley now owns 117,542 shares of the financial services provider’s stock valued at $3,946,000 after purchasing an additional 8,758 shares in the last quarter. 82.53% of the stock is owned by institutional investors.
McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
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