McGrath RentCorp (NASDAQ:MGRC) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

MGRC has been the subject of a number of other research reports. Zacks Investment Research lowered shares of McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st.

McGrath RentCorp (MGRC) opened at $46.95 on Friday. The firm has a market cap of $1,159.31, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.36 and a beta of 0.99. McGrath RentCorp has a 52-week low of $32.09 and a 52-week high of $49.66.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. The firm had revenue of $135.39 million during the quarter, compared to analyst estimates of $124.90 million. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. equities research analysts anticipate that McGrath RentCorp will post 2.04 earnings per share for the current year.

In other news, CFO Keith E. Pratt sold 2,284 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $47.00, for a total transaction of $107,348.00. Following the completion of the transaction, the chief financial officer now owns 28,118 shares of the company’s stock, valued at $1,321,546. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William J. Dawson sold 4,000 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.83, for a total transaction of $191,320.00. Following the transaction, the director now directly owns 15,543 shares of the company’s stock, valued at approximately $743,421.69. The disclosure for this sale can be found here. Insiders have sold 17,602 shares of company stock valued at $805,142 in the last ninety days. 4.60% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of McGrath RentCorp by 17.0% during the first quarter. Vanguard Group Inc. now owns 2,093,570 shares of the financial services provider’s stock valued at $70,282,000 after buying an additional 304,573 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of McGrath RentCorp by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,781,300 shares of the financial services provider’s stock valued at $77,932,000 after buying an additional 35,195 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in shares of McGrath RentCorp by 4.2% during the second quarter. Deprince Race & Zollo Inc. now owns 1,119,041 shares of the financial services provider’s stock valued at $38,752,000 after buying an additional 45,353 shares during the last quarter. State Street Corp raised its position in shares of McGrath RentCorp by 4.7% during the second quarter. State Street Corp now owns 541,096 shares of the financial services provider’s stock valued at $18,737,000 after buying an additional 24,511 shares during the last quarter. Finally, Northern Trust Corp raised its position in McGrath RentCorp by 8.9% in the second quarter. Northern Trust Corp now owns 511,116 shares of the financial services provider’s stock worth $17,701,000 after purchasing an additional 41,984 shares in the last quarter. 82.62% of the stock is owned by institutional investors and hedge funds.

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About McGrath RentCorp

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).

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