McGrath RentCorp (NASDAQ:MGRC) Now Covered by Analysts at StockNews.com

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

McGrath RentCorp Stock Performance

Shares of McGrath RentCorp stock opened at $110.17 on Monday. The firm has a market cap of $2.70 billion, a PE ratio of 21.48, a P/E/G ratio of 1.66 and a beta of 0.82. The business’s 50 day simple moving average is $117.00 and its 200 day simple moving average is $113.80. McGrath RentCorp has a 52-week low of $87.72 and a 52-week high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.20. The company had revenue of $187.80 million for the quarter, compared to the consensus estimate of $145.63 million. McGrath RentCorp had a net margin of 14.70% and a return on equity of 13.43%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share. As a group, equities research analysts predict that McGrath RentCorp will post 5.05 EPS for the current year.

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Monday, April 15th. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 1.72%. McGrath RentCorp’s payout ratio is 37.04%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of McGrath RentCorp by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 2,691,278 shares of the financial services provider’s stock valued at $321,931,000 after acquiring an additional 11,280 shares during the period. Wellington Management Group LLP lifted its stake in McGrath RentCorp by 24.2% in the 4th quarter. Wellington Management Group LLP now owns 771,261 shares of the financial services provider’s stock valued at $92,258,000 after purchasing an additional 150,253 shares during the last quarter. Capital Research Global Investors bought a new position in McGrath RentCorp during the fourth quarter worth about $55,950,000. Vaughan Nelson Investment Management L.P. increased its position in McGrath RentCorp by 82.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 385,980 shares of the financial services provider’s stock worth $47,619,000 after buying an additional 174,240 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in McGrath RentCorp by 48.1% in the fourth quarter. Clearbridge Investments LLC now owns 304,419 shares of the financial services provider’s stock valued at $36,415,000 after buying an additional 98,851 shares during the period. 92.05% of the stock is owned by institutional investors and hedge funds.

About McGrath RentCorp

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.