Neumeier Poma Investment Counsel LLC Sells 5,875 Shares of McGrath RentCorp $MGRC

Neumeier Poma Investment Counsel LLC lowered its stake in McGrath RentCorp (NASDAQ:MGRC) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 292,003 shares of the financial services provider’s stock after selling 5,875 shares during the quarter. McGrath RentCorp accounts for 2.5% of Neumeier Poma Investment Counsel LLC’s portfolio, making the stock its 19th biggest position. Neumeier Poma Investment Counsel LLC’s holdings in McGrath RentCorp were worth $30,640,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ranger Investment Management L.P. purchased a new position in shares of McGrath RentCorp during the third quarter valued at approximately $2,970,000. Envestnet Asset Management Inc. increased its stake in shares of McGrath RentCorp by 112.7% during the third quarter. Envestnet Asset Management Inc. now owns 44,953 shares of the financial services provider’s stock valued at $5,273,000 after buying an additional 23,817 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of McGrath RentCorp during the third quarter valued at approximately $6,866,000. Channing Capital Management LLC increased its stake in shares of McGrath RentCorp by 19.8% during the third quarter. Channing Capital Management LLC now owns 601,583 shares of the financial services provider’s stock valued at $70,566,000 after buying an additional 99,626 shares during the period. Finally, Eminence Capital LP increased its stake in shares of McGrath RentCorp by 5.6% during the third quarter. Eminence Capital LP now owns 944,972 shares of the financial services provider’s stock valued at $110,845,000 after buying an additional 49,930 shares during the period. Institutional investors own 92.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays assumed coverage on McGrath RentCorp in a research note on Wednesday, February 11th. They set an “overweight” rating and a $140.00 target price on the stock. Weiss Ratings cut McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, McGrath RentCorp currently has a consensus rating of “Moderate Buy” and an average target price of $141.50.

Insider Buying and Selling

In related news, insider Trease Kristina Van sold 539 shares of the company’s stock in a transaction 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 sale, the insider directly owned 10,316 shares of the company’s stock, valued at $1,186,340. This represents a 4.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph F. Hanna sold 530 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $112.00, for a total value of $59,360.00. Following the completion of the sale, the director directly owned 159,049 shares in the company, valued at approximately $17,813,488. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,078 shares of company stock valued at $1,248,610 over the last ninety days. Company insiders own 1.40% of the company’s stock.

McGrath RentCorp Stock Performance

MGRC opened at $109.34 on Friday. The stock has a market capitalization of $2.69 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 1.09 and a beta of 0.44. The stock’s 50 day moving average price is $112.12 and its 200-day moving average price is $109.90. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $128.41.

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

McGrath RentCorp Announces Dividend

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

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.