Separately, Sidoti lowered shares of McGrath RentCorp from a buy rating to a neutral rating and set a $106.00 price target on the stock. in a report on Wednesday, November 16th.
McGrath RentCorp Trading Up 0.5 %
MGRC opened at $95.32 on Tuesday. The company has a 50 day moving average of $97.90 and a 200 day moving average of $90.05. The company has a market cap of $2.32 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.08 and a beta of 0.78. McGrath RentCorp has a 12 month low of $71.17 and a 12 month high of $101.78.
McGrath RentCorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, January 17th will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, January 13th. McGrath RentCorp’s payout ratio is 42.82%.
Institutional Investors Weigh In On McGrath RentCorp
A number of large investors have recently modified their holdings of MGRC. Strs Ohio purchased a new position in McGrath RentCorp during the 2nd quarter valued at about $957,000. Hamilton Point Investment Advisors LLC lifted its position 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 valued at $4,258,000 after acquiring an additional 1,200 shares during the period. M&T Bank Corp purchased a new position in McGrath RentCorp during the 2nd quarter valued at about $954,000. Sageworth Trust Co purchased a new position in McGrath RentCorp during the 2nd quarter valued at about $132,000. Finally, Cim LLC lifted its position in McGrath RentCorp by 2.5% during the 3rd quarter. Cim LLC now owns 4,913 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 122 shares during the period. Institutional investors own 82.90% of the company’s stock.
McGrath RentCorp Company Profile
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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