McGrath RentCorp (NASDAQ:MGRC) Research Coverage Started at StockNews.com

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

McGrath RentCorp Trading Down 1.3 %

NASDAQ:MGRC opened at $113.00 on Friday. The firm has a market cap of $2.77 billion, a P/E ratio of 15.87, a PEG ratio of 1.63 and a beta of 0.80. The stock’s 50 day simple moving average is $123.14 and its 200-day simple moving average is $112.89. McGrath RentCorp has a 12-month low of $85.97 and a 12-month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, February 21st. The financial services provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.07). McGrath RentCorp had a return on equity of 13.63% and a net margin of 20.99%. The firm had revenue of $221.59 million for the quarter, compared to analysts’ expectations of $214.43 million. Research analysts forecast that McGrath RentCorp will post 5.42 EPS 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. Investors of record on Tuesday, April 16th will be given a dividend of $0.475 per share. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, April 15th. This represents a $1.90 dividend on an annualized basis and a yield of 1.68%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 26.69%.

Hedge Funds Weigh In On McGrath RentCorp

A number of institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in shares of McGrath RentCorp by 244.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,333 shares of the financial services provider’s stock valued at $5,183,000 after buying an additional 30,737 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of McGrath RentCorp by 0.8% during the third quarter. Vanguard Group Inc. now owns 2,679,998 shares of the financial services provider’s stock worth $268,643,000 after buying an additional 22,273 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of McGrath RentCorp during the fourth quarter worth $25,329,000. UBS Group AG grew its stake in shares of McGrath RentCorp by 26.9% in the third quarter. UBS Group AG now owns 61,326 shares of the financial services provider’s stock worth $6,147,000 after purchasing an additional 12,981 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in McGrath RentCorp during the third quarter valued at $838,000. 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.