McGrath RentCorp (NASDAQ:MGRC) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of McGrath RentCorp (NASDAQ:MGRC) from a strong sell rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of McGrath RentCorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 30th. Oppenheimer boosted their price target on shares of McGrath RentCorp from $139.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.00.

McGrath RentCorp Trading Down 1.0%

McGrath RentCorp stock opened at $110.12 on Thursday. McGrath RentCorp has a 1 year low of $94.99 and a 1 year high of $129.93. The company has a market cap of $2.71 billion, a PE ratio of 18.63, a PEG ratio of 1.08 and a beta of 0.50. The company’s 50-day moving average is $104.99 and its two-hundred day moving average is $113.98.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.11). McGrath RentCorp had a net margin of 15.62% and a return on equity of 12.59%. The company had revenue of $256.44 million during the quarter, compared to analyst estimates of $266.62 million. During the same period last year, the company earned $1.87 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts forecast that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $1.94 annualized dividend and a dividend yield of 1.8%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 32.83%.

Insider Activity at McGrath RentCorp

In other news, SVP Gilda Malek sold 829 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $107.29, for a total transaction of $88,943.41. Following the completion of the transaction, the senior vice president directly owned 4,068 shares of the company’s stock, valued at $436,455.72. This represents a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McGrath RentCorp

Several institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in shares of McGrath RentCorp during the 3rd quarter worth approximately $29,000. Cullen Frost Bankers Inc. acquired a new position in shares of McGrath RentCorp in the third quarter valued at $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of McGrath RentCorp by 767.7% in the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of McGrath RentCorp in the second quarter valued at about $37,000. Finally, Danske Bank A S acquired a new stake in shares of McGrath RentCorp during the 3rd quarter worth about $47,000. Institutional investors own 92.05% of the company’s stock.

About McGrath RentCorp

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.