Neumeier Poma Investment Counsel LLC Grows Holdings in McGrath RentCorp $MGRC

Neumeier Poma Investment Counsel LLC grew its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 45.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 297,878 shares of the financial services provider’s stock after acquiring an additional 92,472 shares during the quarter. McGrath RentCorp accounts for approximately 2.9% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 14th biggest holding. Neumeier Poma Investment Counsel LLC’s holdings in McGrath RentCorp were worth $34,941,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. purchased a new position in shares of McGrath RentCorp in the third quarter worth about $30,000. EverSource Wealth Advisors LLC increased its stake in McGrath RentCorp by 767.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 238 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in McGrath RentCorp in the second quarter valued at approximately $37,000. Strs Ohio bought a new stake in shares of McGrath RentCorp during the 1st quarter worth $56,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of McGrath RentCorp in the 2nd quarter worth about $57,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, SVP Gilda Malek sold 829 shares of McGrath RentCorp stock in a transaction on Monday, December 15th. The shares were sold at an average price of $107.29, for a total value of $88,943.41. Following the transaction, the senior vice president directly owned 4,068 shares of the company’s stock, valued at approximately $436,455.72. The trade was a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays initiated coverage on McGrath RentCorp in a research note on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 target price for the company. Zacks Research raised shares of McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of McGrath RentCorp in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.50.

McGrath RentCorp Stock Up 1.1%

McGrath RentCorp stock opened at $115.69 on Thursday. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $128.41. The company’s 50-day moving average price is $111.92 and its 200-day moving average price is $113.08. The company has a market cap of $2.85 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Wednesday, February 25th. The financial services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.28. McGrath RentCorp had a net margin of 15.62% and a return on equity of 12.59%. The business had revenue of $256.76 million for the quarter, compared to the consensus estimate of $254.32 million. As a group, sell-side analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, April 16th. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.49. McGrath RentCorp’s dividend payout ratio is presently 32.83%.

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.