McGrath RentCorp $MGRC Shares Sold by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC lessened its position in McGrath RentCorp (NASDAQ:MGRC) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 205,406 shares of the financial services provider’s stock after selling 2,840 shares during the quarter. McGrath RentCorp makes up 2.2% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 22nd largest holding. Neumeier Poma Investment Counsel LLC’s holdings in McGrath RentCorp were worth $23,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in McGrath RentCorp in the 2nd quarter valued at about $360,000. Creative Planning boosted its stake in shares of McGrath RentCorp by 40.8% in the second quarter. Creative Planning now owns 9,138 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 2,649 shares during the period. Arcadia Investment Management Corp MI grew its holdings in shares of McGrath RentCorp by 4.1% in the second quarter. Arcadia Investment Management Corp MI now owns 14,152 shares of the financial services provider’s stock valued at $1,641,000 after purchasing an additional 555 shares in the last quarter. Fiera Capital Corp acquired a new position in shares of McGrath RentCorp in the second quarter valued at approximately $3,028,000. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in McGrath RentCorp by 4.4% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,647 shares of the financial services provider’s stock worth $655,000 after buying an additional 236 shares during the period. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MGRC. Oppenheimer increased their target price on shares of McGrath RentCorp from $139.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Weiss Ratings cut McGrath RentCorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, McGrath RentCorp has an average rating of “Moderate Buy” and a consensus price target of $147.50.

McGrath RentCorp Stock Down 1.8%

Shares of McGrath RentCorp stock opened at $95.60 on Wednesday. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $129.93. The company has a 50 day moving average of $114.40 and a 200 day moving average of $116.51. The company has a market capitalization of $2.35 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.18 and a beta of 0.55.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.11). McGrath RentCorp had a net margin of 15.62% and a return on equity of 12.59%. The firm had revenue of $256.44 million during the quarter, compared to analysts’ expectations of $266.62 million. During the same period in the prior year, the company posted $1.87 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. McGrath RentCorp has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that McGrath RentCorp will post 6.18 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, October 31st. Shareholders of record on Friday, October 17th were paid a $0.485 dividend. The ex-dividend date was Friday, October 17th. This represents a $1.94 dividend on an annualized basis and a yield of 2.0%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 32.83%.

About McGrath RentCorp

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, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.