Neumeier Poma Investment Counsel LLC Acquires Shares of 295,108 McGrath RentCorp $MGRC

Neumeier Poma Investment Counsel LLC bought a new stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 295,108 shares of the financial services provider's stock, valued at approximately $35,716,921,000. McGrath RentCorp accounts for approximately 2.4% of Neumeier Poma Investment Counsel LLC's portfolio, making the stock its 23rd biggest holding. Neumeier Poma Investment Counsel LLC owned about 1.21% of McGrath RentCorp as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MGRC. EverSource Wealth Advisors LLC raised its stake in McGrath RentCorp by 767.7% in the second 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 in the last quarter. Danske Bank A S acquired a new stake in McGrath RentCorp during the third quarter worth about $47,000. Strs Ohio bought a new position in McGrath RentCorp in the 1st quarter valued at about $56,000. Covestor Ltd increased its holdings in McGrath RentCorp by 52.0% in the 4th quarter. Covestor Ltd now owns 1,385 shares of the financial services provider's stock valued at $145,000 after buying an additional 474 shares during the period. Finally, Voleon Capital Management LP acquired a new position in shares of McGrath RentCorp in the 3rd quarter valued at approximately $204,000. 92.05% of the stock is owned by institutional investors and hedge funds.

McGrath RentCorp Stock Performance

McGrath RentCorp stock opened at $116.65 on Monday. McGrath RentCorp has a 52 week low of $94.99 and a 52 week high of $127.68. The stock has a market capitalization of $2.85 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The stock has a fifty day moving average of $118.47 and a 200-day moving average of $114.23.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) 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 business had revenue of $221.11 million for the quarter, compared to the consensus estimate of $236.51 million. McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%. On average, research analysts forecast that McGrath RentCorp will post 6.37 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued 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 dividend yield of 1.7%. McGrath RentCorp's payout ratio is 31.88%.

Insider Buying and Selling at McGrath RentCorp

In related news, insider Trease Kristina Van sold 3,783 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $113.65, for a total transaction of $429,937.95. Following the completion of the transaction, the insider directly owned 6,533 shares in the company, valued at $742,475.45. This represents a 36.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David M. Whitney sold 3,783 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $113.65, for a total transaction of $429,937.95. Following the completion of the sale, the chief accounting officer owned 6,533 shares in the company, valued at $742,475.45. This represents a 36.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 25,408 shares of company stock worth $3,014,686 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of 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 assigned a Hold rating to the stock. According to MarketBeat.com, McGrath RentCorp has an average rating of "Moderate Buy" and a consensus price target of $141.50.

About McGrath RentCorp

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.

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