Neumeier Poma Investment Counsel LLC Invests $35.72 Billion in McGrath RentCorp $MGRC

Neumeier Poma Investment Counsel LLC acquired a new stake in McGrath RentCorp (NASDAQ:MGRC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 295,108 shares of the financial services provider’s stock, valued at approximately $35,716,921,000. McGrath RentCorp accounts for about 2.4% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its 23rd biggest holding.

A number of other large investors have also added to or reduced their stakes in the business. River Road Asset Management LLC increased its position in McGrath RentCorp by 3.1% in the 4th quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider’s stock valued at $223,619,000 after acquiring an additional 64,566 shares during the period. Comerica Bank grew its stake in shares of McGrath RentCorp by 96.8% in the fourth quarter. Comerica Bank now owns 58,374 shares of the financial services provider’s stock worth $6,125,000 after purchasing an additional 28,719 shares during the last quarter. Bank of America Corp DE grew its stake in shares of McGrath RentCorp by 26.7% in the first quarter. Bank of America Corp DE now owns 123,549 shares of the financial services provider’s stock worth $13,625,000 after purchasing an additional 26,022 shares during the last quarter. Gabelli Funds LLC increased its holdings in McGrath RentCorp by 28.8% in the fourth quarter. Gabelli Funds LLC now owns 49,243 shares of the financial services provider’s stock valued at $5,167,000 after purchasing an additional 11,011 shares during the period. Finally, Lazard Asset Management LLC bought a new position in McGrath RentCorp during the 1st quarter worth $3,877,000. Institutional investors own 92.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.50.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, VP John P. Skenesky sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $120.41, for a total transaction of $240,820.00. Following the transaction, the vice president directly owned 10,634 shares in the company, valued at approximately $1,280,439.94. This represents a 15.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph F. Hanna sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $120.64, for a total transaction of $904,800.00. Following the sale, the director directly owned 151,549 shares of the company’s stock, valued at approximately $18,282,871.36. This trade represents a 4.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,408 shares of company stock valued at $3,014,686 over the last ninety days. Insiders own 1.40% of the company’s stock.

McGrath RentCorp Price Performance

MGRC opened at $116.65 on Monday. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $127.68. The company has a fifty day moving average of $118.47 and a 200-day moving average of $114.23. The stock has a market cap of $2.85 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%.The business had revenue of $221.11 million for the quarter, compared to analyst estimates of $236.51 million. Sell-side analysts anticipate that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were paid a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.98 annualized dividend and a yield of 1.7%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 31.88%.

McGrath RentCorp Company 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.