Neumeier Poma Investment Counsel LLC Purchases 114,626 Shares of McGrath RentCorp (NASDAQ:MGRC)

Neumeier Poma Investment Counsel LLC grew its stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 127.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 204,806 shares of the financial services provider's stock after acquiring an additional 114,626 shares during the period. McGrath RentCorp comprises 2.2% of Neumeier Poma Investment Counsel LLC's investment portfolio, making the stock its 21st biggest holding. Neumeier Poma Investment Counsel LLC owned approximately 0.83% of McGrath RentCorp worth $22,901,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Atala Financial Inc acquired a new stake in McGrath RentCorp during the 4th quarter worth approximately $31,000. KBC Group NV grew its stake in McGrath RentCorp by 37.3% during the 4th quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock worth $118,000 after purchasing an additional 286 shares in the last quarter. Xponance Inc. acquired a new stake in McGrath RentCorp in the 4th quarter valued at about $200,000. Millburn Ridgefield Corp purchased a new position in shares of McGrath RentCorp in the 3rd quarter valued at about $203,000. Finally, Empirical Asset Management LLC acquired a new position in shares of McGrath RentCorp during the fourth quarter worth about $207,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MGRC shares. StockNews.com downgraded shares of McGrath RentCorp from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. CJS Securities assumed coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They set an "outperform" rating and a $152.00 target price for the company.

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Insider Buying and Selling

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of McGrath RentCorp stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total value of $124,690.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $935,175. The trade was a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

McGrath RentCorp Stock Down 1.9 %

Shares of MGRC opened at $111.40 on Tuesday. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.35 and a beta of 0.75. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93. The stock has a 50 day moving average price of $119.25 and a 200 day moving average price of $115.34.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The firm had revenue of $243.75 million for the quarter, compared to the consensus estimate of $246.93 million. On average, equities analysts anticipate that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be given a $0.485 dividend. The ex-dividend date is Wednesday, April 16th. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.74%. McGrath RentCorp's dividend payout ratio is 20.57%.

McGrath RentCorp Company Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.