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

Neumeier Poma Investment Counsel LLC cut its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 292,003 shares of the financial services provider’s stock after selling 5,875 shares during the quarter. McGrath RentCorp makes up 2.5% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 19th largest holding. Neumeier Poma Investment Counsel LLC owned 1.19% of McGrath RentCorp worth $30,640,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of McGrath RentCorp during the 3rd quarter valued at $29,000. EverSource Wealth Advisors LLC increased its position in shares of McGrath RentCorp by 767.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. Danske Bank A S purchased a new stake in shares of McGrath RentCorp during the 3rd quarter valued at $47,000. Strs Ohio purchased a new stake in shares of McGrath RentCorp during the 1st quarter valued at $56,000. Finally, Covestor Ltd increased its position in shares of McGrath RentCorp by 52.0% during the 4th quarter. Covestor Ltd now owns 1,385 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 474 shares during the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

McGrath RentCorp Trading Up 2.2%

Shares of NASDAQ MGRC opened at $109.34 on Friday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.09 and a beta of 0.44. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $128.41. The stock’s 50-day moving average is $112.12 and its 200 day moving average is $109.90.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.03). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. The firm had revenue of $198.54 million for the quarter, compared to analysts’ expectations of $198.19 million. On average, analysts forecast that McGrath RentCorp will post 6.35 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a $0.495 dividend. The ex-dividend date is Friday, July 17th. This represents a $1.98 annualized dividend and a yield of 1.8%. McGrath RentCorp’s payout ratio is presently 31.43%.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, CAO David M. Whitney sold 539 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $115.00, for a total value of $61,985.00. Following the completion of the sale, the chief accounting officer owned 10,316 shares in the company, valued at approximately $1,186,340. The trade was a 4.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Trease Kristina Van sold 539 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $115.00, for a total value of $61,985.00. Following the completion of the sale, the insider owned 10,316 shares of the company’s stock, valued at $1,186,340. The trade was a 4.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 11,078 shares of company stock worth $1,248,610. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MGRC has been the subject of several analyst reports. 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. Weiss Ratings downgraded McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

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.