McGrath RentCorp (NASDAQ:MGRC) Coverage Initiated at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of McGrath RentCorp (NASDAQ:MGRCGet Free Report) in a research report issued on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

McGrath RentCorp Trading Up 0.2 %

Shares of NASDAQ:MGRC opened at $129.95 on Thursday. The stock has a market capitalization of $3.18 billion, a PE ratio of 17.47, a P/E/G ratio of 1.84 and a beta of 0.83. McGrath RentCorp has a 1 year low of $85.63 and a 1 year high of $130.57. The firm has a fifty day moving average price of $115.41 and a 200 day moving average price of $105.15.

Hedge Funds Weigh In On McGrath RentCorp

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in McGrath RentCorp by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,679,998 shares of the financial services provider’s stock worth $268,643,000 after buying an additional 22,273 shares during the period. BlackRock Inc. boosted its holdings in McGrath RentCorp by 2.5% in the 2nd quarter. BlackRock Inc. now owns 2,190,395 shares of the financial services provider’s stock valued at $202,568,000 after purchasing an additional 52,813 shares during the period. Franklin Resources Inc. boosted its holdings in McGrath RentCorp by 27.5% in the 2nd quarter. Franklin Resources Inc. now owns 1,838,097 shares of the financial services provider’s stock valued at $169,987,000 after purchasing an additional 396,676 shares during the period. Dimensional Fund Advisors LP boosted its holdings in McGrath RentCorp by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,283,314 shares of the financial services provider’s stock valued at $118,681,000 after purchasing an additional 5,607 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of McGrath RentCorp by 6.1% in the second quarter. Victory Capital Management Inc. now owns 1,107,463 shares of the financial services provider’s stock valued at $102,418,000 after buying an additional 63,738 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

About McGrath RentCorp

(Get Free Report)

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 liquid and solid containment tanks and boxes. The company operates through Mobile Modular, TRS-RenTelco, and Enviroplex segments.

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