StockNews.com started coverage on shares of McGrath RentCorp (NASDAQ:MGRC – Free Report) in a research note published on Wednesday morning. The firm issued a hold rating on the financial services provider’s stock.
McGrath RentCorp Price Performance
NASDAQ:MGRC opened at $122.39 on Wednesday. McGrath RentCorp has a one year low of $85.63 and a one year high of $130.86. The company has a market cap of $3.00 billion, a PE ratio of 17.19, a PEG ratio of 1.73 and a beta of 0.80. The firm has a 50-day moving average of $122.96 and a 200-day moving average of $111.07.
McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The financial services provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.07). McGrath RentCorp had a return on equity of 13.63% and a net margin of 20.99%. The company had revenue of $221.59 million for the quarter, compared to the consensus estimate of $214.43 million. On average, equities research analysts expect that McGrath RentCorp will post 5.42 earnings per share for the current fiscal year.
McGrath RentCorp Increases Dividend
Institutional Trading of McGrath RentCorp
Institutional investors have recently made changes to their positions in the company. KBC Group NV bought a new position in shares of McGrath RentCorp during the fourth quarter valued at about $33,000. Dark Forest Capital Management LP lifted its position in shares of McGrath RentCorp by 210.0% during the 1st quarter. Dark Forest Capital Management LP now owns 310 shares of the financial services provider’s stock worth $29,000 after buying an additional 210 shares in the last quarter. Adirondack Trust Co. purchased a new position in shares of McGrath RentCorp in the 3rd quarter worth approximately $50,000. Lazard Asset Management LLC bought a new position in shares of McGrath RentCorp in the first quarter valued at approximately $51,000. Finally, Tower Research Capital LLC TRC increased its position in shares of McGrath RentCorp by 211.3% during the first quarter. Tower Research Capital LLC TRC now owns 607 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 412 shares during the last quarter. Institutional investors own 92.05% of the company’s stock.
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.
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