McGrath RentCorp (NASDAQ:MGRC) Coverage Initiated by Analysts at Barclays

Barclays began coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a research note released on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $140.00 target price on the financial services provider’s stock.

A number of other analysts have also weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of McGrath RentCorp in a report on Tuesday, January 27th. Zacks Research raised McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.50.

McGrath RentCorp Stock Performance

NASDAQ:MGRC traded up $2.46 during mid-day trading on Wednesday, reaching $118.10. The stock had a trading volume of 6,350 shares, compared to its average volume of 127,445. The stock has a market capitalization of $2.91 billion, a P/E ratio of 19.98, a P/E/G ratio of 1.13 and a beta of 0.51. The firm has a 50 day moving average price of $110.00 and a two-hundred day moving average price of $113.55. McGrath RentCorp has a one year low of $94.99 and a one year high of $129.93.

McGrath RentCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, January 16th. McGrath RentCorp’s dividend payout ratio is currently 32.83%.

Insider Buying and Selling at McGrath RentCorp

In other news, SVP Gilda Malek sold 829 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $107.29, for a total transaction of $88,943.41. Following the transaction, the senior vice president directly owned 4,068 shares of the company’s stock, valued at $436,455.72. This represents a 16.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On McGrath RentCorp

A number of large investors have recently added to or reduced their stakes in MGRC. American Century Companies Inc. grew its stake in shares of McGrath RentCorp by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider’s stock valued at $1,422,000 after acquiring an additional 85 shares during the period. Coldstream Capital Management Inc. raised its stake in McGrath RentCorp by 0.5% in the second quarter. Coldstream Capital Management Inc. now owns 18,688 shares of the financial services provider’s stock worth $2,167,000 after buying an additional 88 shares in the last quarter. Cim LLC grew its stake in shares of McGrath RentCorp by 2.2% during the second quarter. Cim LLC now owns 4,556 shares of the financial services provider’s stock worth $528,000 after acquiring an additional 99 shares during the last quarter. Diversified Trust Co. boosted its holdings in shares of McGrath RentCorp by 4.6% in the 4th quarter. Diversified Trust Co. now owns 2,332 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 103 shares during the last quarter. Finally, Summit Global Investments raised its position in shares of McGrath RentCorp by 2.3% in the second quarter. Summit Global Investments now owns 4,971 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 114 shares during the period. Institutional investors own 92.05% of the company’s stock.

About McGrath RentCorp

McGrath RentCorp, through its subsidiaries, provides rental, sales, and servicing of equipment for commercial, industrial, environmental, and residential markets. The company operates primarily through two segments—mobile storage and water management—offering flexible solutions for customers requiring on-site storage, water transport, treatment, and dewatering services.

In its mobile storage segment, McGrath RentCorp supplies portable storage containers and modular office units to sectors including construction, retail, government, and disaster restoration.