Neumeier Poma Investment Counsel LLC Buys New Shares in McGrath RentCorp $MGRC

Neumeier Poma Investment Counsel LLC bought a new stake in McGrath RentCorp (NASDAQ:MGRC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 295,108 shares of the financial services provider’s stock, valued at approximately $35,716,921. McGrath RentCorp makes up approximately 0.0% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its 23rd biggest position. Neumeier Poma Investment Counsel LLC owned approximately 1.21% of McGrath RentCorp as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. River Road Asset Management LLC raised its stake in shares of McGrath RentCorp by 3.1% during the 4th quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider’s stock worth $223,619,000 after purchasing an additional 64,566 shares in the last quarter. BlackRock Inc. acquired a new position in shares of McGrath RentCorp during the 2nd quarter worth $252,840,000. Eminence Capital LP raised its holdings in McGrath RentCorp by 0.5% during the 4th quarter. Eminence Capital LP now owns 949,673 shares of the financial services provider’s stock worth $99,649,000 after purchasing an additional 4,701 shares during the last quarter. Dimensional Fund Advisors LP raised its position in McGrath RentCorp by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 906,954 shares of the financial services provider’s stock valued at $100,019,000 after buying an additional 47,451 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in McGrath RentCorp by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 900,181 shares of the financial services provider’s stock valued at $94,456,000 after buying an additional 6,552 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors.

Insider Activity

In other McGrath RentCorp news, CEO Philip B. Hawkins sold 4,435 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $120.91, for a total transaction of $536,235.85. Following the completion of the sale, the chief executive officer directly owned 13,371 shares in the company, valued at $1,616,687.61. This represents a 24.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph F. Hanna sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $120.64, for a total transaction of $904,800.00. Following the sale, the director owned 151,549 shares of the company’s stock, valued at $18,282,871.36. This trade represents a 4.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 25,408 shares of company stock valued at $3,014,686. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

McGrath RentCorp Trading Down 0.6%

Shares of McGrath RentCorp stock traded down $0.67 during mid-day trading on Friday, hitting $113.08. 55,936 shares of the stock were exchanged, compared to its average volume of 180,243. The company has a 50-day simple moving average of $118.45 and a 200 day simple moving average of $114.11. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.16 and a beta of 0.44. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $127.68.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.10). The firm had revenue of $221.11 million during the quarter, compared to analyst estimates of $236.51 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. Equities research analysts forecast that McGrath RentCorp will post 6.37 earnings per share for the current fiscal year.

McGrath RentCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, July 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 31.88%.

McGrath RentCorp Profile

McGrath RentCorp, through its subsidiaries, provides rental, sales, and servicing of equipment for commercial, industrial, environmental, and residential markets. The company operates primarily through two segments—mobile storage and water management—offering flexible solutions for customers requiring on-site storage, water transport, treatment, and dewatering services.

In its mobile storage segment, McGrath RentCorp supplies portable storage containers and modular office units to sectors including construction, retail, government, and disaster restoration.