McGrath RentCorp (NASDAQ:MGRC) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a report released on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

McGrath RentCorp Stock Up 2.2 %

McGrath RentCorp stock opened at $111.71 on Friday. McGrath RentCorp has a 52 week low of $86.26 and a 52 week high of $130.86. The company’s 50 day moving average price is $119.70 and its two-hundred day moving average price is $113.41. The stock has a market cap of $2.74 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.55 and a beta of 0.80.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20. McGrath RentCorp had a return on equity of 13.56% and a net margin of 14.70%. The business had revenue of $187.80 million for the quarter, compared to analyst estimates of $145.63 million. During the same period last year, the company posted $0.89 earnings per share. McGrath RentCorp’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate that McGrath RentCorp will post 5.42 EPS for the current year.

Institutional Trading of McGrath RentCorp

A number of large investors have recently added to or reduced their stakes in MGRC. Capital Research Global Investors bought a new position in shares of McGrath RentCorp during the 4th quarter valued at approximately $55,950,000. Public Employees Retirement Association of Colorado increased its position in McGrath RentCorp by 3,216.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 248,844 shares of the financial services provider’s stock worth $29,767,000 after buying an additional 241,340 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in McGrath RentCorp in the fourth quarter worth $25,329,000. Wellington Management Group LLP raised its stake in shares of McGrath RentCorp by 50.7% in the third quarter. Wellington Management Group LLP now owns 621,008 shares of the financial services provider’s stock valued at $62,250,000 after buying an additional 208,819 shares during the period. Finally, Clearbridge Investments LLC purchased a new stake in McGrath RentCorp in the 3rd quarter worth about $20,606,000. Hedge funds and other 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.