McGrath RentCorp (MGRC) Receives Consensus Rating of “Hold” from Analysts

McGrath RentCorp (NASDAQ:MGRC) has been given a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.

Zacks has also assigned McGrath RentCorp an industry rank of 243 out of 265 based on the ratings given to its competitors.

MGRC has been the subject of a number of research reports. BidaskClub upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Oppenheimer reiterated a “hold” rating on shares of McGrath RentCorp in a report on Wednesday, November 1st. Zacks Investment Research downgraded shares of McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, ValuEngine downgraded shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st.

In other McGrath RentCorp news, VP Keith E. Pratt sold 1,213 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $46.52, for a total value of $56,428.76. Following the sale, the vice president now directly owns 25,382 shares in the company, valued at approximately $1,180,770.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith E. Pratt sold 1,412 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was 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 owns 28,118 shares in the company, valued at $1,293,709.18. The disclosure for this sale can be found here. Insiders sold a total of 13,159 shares of company stock worth $628,935 in the last quarter. Insiders own 4.60% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in McGrath RentCorp by 0.5% during the second quarter. Public Employees Retirement System of Ohio now owns 11,166 shares of the financial services provider’s stock worth $387,000 after buying an additional 56 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of McGrath RentCorp by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 7,252 shares of the financial services provider’s stock worth $252,000 after buying an additional 172 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in McGrath RentCorp by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,426 shares of the financial services provider’s stock valued at $638,000 after acquiring an additional 352 shares during the period. Wells Fargo & Company MN raised its stake in McGrath RentCorp by 2.0% in the 2nd quarter. Wells Fargo & Company MN now owns 18,013 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 357 shares during the period. Finally, Voya Investment Management LLC raised its stake in McGrath RentCorp by 7.5% in the 2nd quarter. Voya Investment Management LLC now owns 13,121 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 912 shares during the period. Institutional investors and hedge funds own 82.78% of the company’s stock.

McGrath RentCorp (NASDAQ MGRC) traded down $0.57 during trading hours on Monday, hitting $48.83. The stock had a trading volume of 5,038 shares, compared to its average volume of 74,377. The stock has a market capitalization of $1,187.19, a price-to-earnings ratio of 25.70, a PEG ratio of 2.22 and a beta of 1.02. McGrath RentCorp has a 52-week low of $32.09 and a 52-week high of $50.69.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. The firm had revenue of $135.39 million during the quarter, compared to analyst estimates of $124.90 million. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. sell-side analysts forecast that McGrath RentCorp will post 2.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $1.04 annualized dividend and a yield of 2.13%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 54.74%.

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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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