McGrath RentCorp (NASDAQ:MGRC - Get Free Report) saw an uptick in trading volume on Wednesday . 778,850 shares traded hands during mid-day trading, an increase of 361% from the previous session's volume of 169,000 shares.The stock last traded at $109.06 and had previously closed at $109.18.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of McGrath RentCorp in a report on Tuesday, January 27th. Zacks Research upgraded shares of McGrath RentCorp from a "strong sell" rating to a "hold" rating in a report on Thursday, January 15th. Finally, Barclays started coverage on shares of McGrath RentCorp in a report on Wednesday, February 11th. They set an "overweight" rating and a $140.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $141.50.
Get Our Latest Report on MGRC
McGrath RentCorp Stock Performance
The stock has a fifty day moving average price of $110.90 and a 200-day moving average price of $109.86. The firm has a market capitalization of $2.68 billion, a PE ratio of 17.16, a P/E/G ratio of 1.13 and a beta of 0.49.
McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.28. The company had revenue of $256.76 million for the quarter, compared to the consensus estimate of $254.32 million. McGrath RentCorp had a return on equity of 13.21% and a net margin of 16.55%. Research analysts expect that McGrath RentCorp will post 6.52 earnings per share for the current fiscal year.
McGrath RentCorp Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be given a dividend of $0.495 per share. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.49. The ex-dividend date is Thursday, April 16th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.8%. McGrath RentCorp's payout ratio is 31.18%.
Institutional Investors Weigh In On McGrath RentCorp
A number of institutional investors have recently modified their holdings of MGRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of McGrath RentCorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider's stock valued at $1,618,000 after acquiring an additional 639 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of McGrath RentCorp by 5.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,256 shares of the financial services provider's stock valued at $8,606,000 after acquiring an additional 3,967 shares during the period. Jane Street Group LLC grew its position in shares of McGrath RentCorp by 2,213.6% during the 1st quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider's stock valued at $6,477,000 after acquiring an additional 55,627 shares during the period. Focus Partners Wealth grew its position in shares of McGrath RentCorp by 68.6% during the 1st quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider's stock valued at $228,000 after acquiring an additional 832 shares during the period. Finally, Intech Investment Management LLC grew its position in shares of McGrath RentCorp by 24.8% during the 1st quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider's stock valued at $1,537,000 after acquiring an additional 2,745 shares during the period. 92.05% of the stock is currently owned by institutional investors and hedge funds.
About McGrath RentCorp
(
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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.
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