McGrath RentCorp $MGRC Position Boosted by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC raised its stake in shares of McGrath RentCorp (NASDAQ:MGRC) by 45.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 297,878 shares of the financial services provider’s stock after buying an additional 92,472 shares during the period. McGrath RentCorp makes up 2.9% of Neumeier Poma Investment Counsel LLC’s portfolio, making the stock its 14th biggest position. Neumeier Poma Investment Counsel LLC owned about 1.21% of McGrath RentCorp worth $34,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of MGRC. Cullen Frost Bankers Inc. acquired a new position in shares of McGrath RentCorp in the 3rd quarter valued at $30,000. EverSource Wealth Advisors LLC increased its stake in shares of McGrath RentCorp by 767.7% in the second 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 shares of McGrath RentCorp during the 2nd quarter worth about $37,000. Strs Ohio bought a new position in McGrath RentCorp during the first quarter valued at approximately $56,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of McGrath RentCorp during the 2nd quarter valued at $57,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Activity

In other news, SVP Gilda Malek sold 829 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $107.29, for a total transaction of $88,943.41. Following the completion of the transaction, the senior vice president owned 4,068 shares of the company’s stock, valued at approximately $436,455.72. This trade represents a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

McGrath RentCorp Stock Performance

NASDAQ:MGRC opened at $115.69 on Thursday. The company has a market cap of $2.85 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.12 and a beta of 0.51. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $128.41. The stock’s 50-day simple moving average is $111.92 and its 200 day simple moving average is $113.08.

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

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be paid a dividend of $0.495 per share. The ex-dividend date is Thursday, April 16th. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a yield of 1.7%. McGrath RentCorp’s dividend payout ratio is currently 32.83%.

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.