StockNews.com began coverage on shares of McGrath RentCorp (NASDAQ:MGRC – Free Report) in a report released on Saturday morning. The brokerage issued a hold rating on the financial services provider’s stock.
McGrath RentCorp Stock Down 2.5 %
MGRC opened at $107.66 on Friday. The firm has a market cap of $2.64 billion, a P/E ratio of 15.12, a PEG ratio of 1.57 and a beta of 0.80. McGrath RentCorp has a 52 week low of $85.97 and a 52 week high of $130.86. The business’s fifty day simple moving average is $121.23 and its 200 day simple moving average is $113.27.
McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last posted its quarterly earnings data 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 net margin of 20.99% and a return on equity of 13.63%. The company had revenue of $221.59 million for the quarter, compared to analyst estimates of $214.43 million. As a group, equities analysts expect that McGrath RentCorp will post 5.42 EPS for the current fiscal year.
McGrath RentCorp Increases Dividend
Hedge Funds Weigh In On McGrath RentCorp
Large investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH raised its holdings in shares of 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 worth $2,987,000 after purchasing an additional 90 shares during the period. Arcadia Investment Management Corp MI grew its stake in shares of McGrath RentCorp by 1.1% in the fourth quarter. Arcadia Investment Management Corp MI now owns 9,607 shares of the financial services provider’s stock valued at $1,149,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System grew its stake in shares of McGrath RentCorp by 1.7% in the third quarter. Arizona State Retirement System now owns 6,969 shares of the financial services provider’s stock valued at $699,000 after buying an additional 118 shares in the last quarter. Diversified Trust Co grew its stake in shares of McGrath RentCorp by 4.2% in the third quarter. Diversified Trust Co now owns 3,628 shares of the financial services provider’s stock valued at $364,000 after buying an additional 147 shares in the last quarter. Finally, Adirondack Trust Co. acquired a new stake in shares of McGrath RentCorp in the third quarter valued at about $50,000. 92.05% of the stock is currently owned by hedge funds and other 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.
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