BlackRock, Inc recently revealed that they own a 5.4% stake in McGrath RentCorp (NASDAQ:MGRC) in a Form 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Tuesday, January 26th. The investor owns 1,298,873 shares of the stock valued at approximately $30,068,910. The filing is available through the SEC website at this link.

Separately, KBC Group bought a new position in shares of McGrath RentCorp during the third quarter valued at about $19,000.

Shares of McGrath RentCorp (NASDAQ:MGRC) traded up 2.57% on Tuesday, hitting $23.15. The company had a trading volume of 151,250 shares. The firm’s 50 day moving average price is $24.86 and its 200-day moving average price is $26.62. McGrath RentCorp has a 52 week low of $21.46 and a 52 week high of $35.00. The stock has a market capitalization of $552.94 million and a PE ratio of 14.02.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Thursday, October 29th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. The company had revenue of $113.05 million for the quarter, compared to analysts’ expectations of $113.60 million. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. Analysts forecast that McGrath RentCorp will post $1.62 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.32%. The ex-dividend date is Wednesday, January 13th. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.24.

Several research analysts recently issued reports on the company. Sidoti raised McGrath RentCorp from a “neutral” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Friday, January 8th. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Tuesday, November 3rd.

McGrath RentCorp is a business-to-business rental company with three rental divisions: relocatable modular buildings, electronic test equipment, and liquid and solid containment tanks and boxes. The Company’s primary emphasis is on equipment rentals. However, sales of equipment occur in the normal course of business. The Company is comprised of four business segments: modular building and portable storage rental division (NASDAQ:MGRC); electronic test equipment rental division (TRS-RenTelco); wholly owned subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids (Adler Tanks); and wholly owned subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex). The Mobile Modular business segment includes Mobile Modular Portable Storage.

12 Month Chart for NASDAQ:MGRC

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