McGrath RentCorp (NASDAQ:MGRC) Shares Purchased by Dakota Wealth Management

Dakota Wealth Management raised its stake in McGrath RentCorp (NASDAQ:MGRC) by 3.9% during the third quarter, Holdings Channel reports. The firm owned 6,098 shares of the financial services provider’s stock after purchasing an additional 228 shares during the period. Dakota Wealth Management’s holdings in McGrath RentCorp were worth $642,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Raymond James & Associates boosted its holdings in shares of McGrath RentCorp by 47.2% in the 3rd quarter. Raymond James & Associates now owns 67,140 shares of the financial services provider’s stock valued at $7,068,000 after purchasing an additional 21,540 shares during the last quarter. Swedbank AB boosted its holdings in shares of McGrath RentCorp by 25.0% in the 3rd quarter. Swedbank AB now owns 250,000 shares of the financial services provider’s stock valued at $26,320,000 after purchasing an additional 50,000 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of McGrath RentCorp by 17.4% in the 3rd quarter. Inspire Investing LLC now owns 3,901 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 577 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of McGrath RentCorp by 44.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,158 shares of the financial services provider’s stock valued at $648,000 after purchasing an additional 1,900 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of McGrath RentCorp in the 3rd quarter valued at $888,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MGRC shares. Oppenheimer lifted their price target on shares of McGrath RentCorp from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com upgraded shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd.

McGrath RentCorp Trading Up 8.5 %

NASDAQ:MGRC opened at $114.17 on Monday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.82 and a beta of 0.75. The firm’s fifty day simple moving average is $105.85 and its 200 day simple moving average is $107.30. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.48. McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The business had revenue of $266.76 million for the quarter, compared to analyst estimates of $227.76 million. During the same quarter in the previous year, the business posted $1.65 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts predict that McGrath RentCorp will post 4.48 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, October 17th. McGrath RentCorp’s dividend payout ratio (DPR) is 40.25%.

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.