McGrath RentCorp (NASDAQ:MGRC) Downgraded by Sidoti

Sidoti downgraded shares of McGrath RentCorp (NASDAQ:MGRCGet Rating) from a buy rating to a neutral rating in a report published on Wednesday, Marketbeat Ratings reports. They currently have $106.00 price objective on the financial services provider’s stock.

Separately, StockNews.com cut shares of McGrath RentCorp from a buy rating to a hold rating in a research report on Monday, October 31st.

McGrath RentCorp Stock Performance

McGrath RentCorp stock opened at $95.45 on Wednesday. The firm has a market cap of $2.33 billion, a PE ratio of 22.46, a P/E/G ratio of 2.13 and a beta of 0.80. The firm’s 50 day moving average price is $88.77 and its two-hundred day moving average price is $83.78. McGrath RentCorp has a twelve month low of $71.17 and a twelve month high of $100.30.

McGrath RentCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Monday, October 17th were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, October 14th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 42.82%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Strs Ohio bought a new position in shares of McGrath RentCorp in the 2nd quarter valued at about $957,000. Hamilton Point Investment Advisors LLC boosted its stake in McGrath RentCorp by 2.2% during the 2nd quarter. Hamilton Point Investment Advisors LLC now owns 56,030 shares of the financial services provider’s stock worth $4,258,000 after acquiring an additional 1,200 shares during the last quarter. M&T Bank Corp bought a new position in McGrath RentCorp during the 2nd quarter worth approximately $954,000. Sageworth Trust Co bought a new position in McGrath RentCorp during the 2nd quarter worth approximately $132,000. Finally, Krane Funds Advisors LLC bought a new position in McGrath RentCorp during the 1st quarter worth approximately $839,000. Institutional investors own 82.93% of the company’s stock.

About McGrath RentCorp

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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, electronic test equipment and related accessories, and liquid and solid containment tanks and boxes. The company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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