Analysts Expect McGrath RentCorp (MGRC) to Post $0.53 EPS

Shares of McGrath RentCorp (NASDAQ:MGRC) have been given an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Zacks has also assigned McGrath RentCorp an industry rank of 244 out of 265 based on the ratings given to related companies.

Several analysts have recently commented on the company. BidaskClub cut McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Zacks Investment Research cut McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine cut McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Oppenheimer restated a “hold” rating on shares of McGrath RentCorp in a report on Wednesday, November 1st.

In other news, Director William J. Dawson sold 4,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $47.83, for a total transaction of $191,320.00. Following the transaction, the director now owns 15,543 shares of the company’s stock, valued at $743,421.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Keith E. Pratt sold 1,213 shares of the company’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 transaction, the vice president now directly owns 25,382 shares in the company, valued at approximately $1,180,770.64. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of MGRC. Chartwell Investment Partners LLC lifted its stake in shares of McGrath RentCorp by 94.2% during the third quarter. Chartwell Investment Partners LLC now owns 216,385 shares of the financial services provider’s stock valued at $9,466,000 after acquiring an additional 104,973 shares during the period. EAM Investors LLC acquired a new position in McGrath RentCorp in the fourth quarter valued at about $2,135,000. SG Capital Management LLC acquired a new position in McGrath RentCorp in the third quarter valued at about $1,934,000. Northern Trust Corp lifted its stake in McGrath RentCorp by 8.9% in the second quarter. Northern Trust Corp now owns 511,116 shares of the financial services provider’s stock valued at $17,701,000 after buying an additional 41,984 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in McGrath RentCorp by 23.0% in the second quarter. Goldman Sachs Group Inc. now owns 196,166 shares of the financial services provider’s stock valued at $6,793,000 after buying an additional 36,623 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of McGrath RentCorp (NASDAQ MGRC) traded up $0.50 during mid-day trading on Tuesday, hitting $47.15. The stock had a trading volume of 63,200 shares, compared to its average volume of 74,883. The company has a market capitalization of $1,121.10, a PE ratio of 24.82, a PEG ratio of 2.12 and a beta of 1.00. McGrath RentCorp has a 12 month low of $32.09 and a 12 month high of $50.69.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, January 16th. McGrath RentCorp’s payout ratio 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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