1,334,033 Shares in WillScot Holdings Corporation $WSC Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 1.33 million WillScot shares worth approximately $38.5 million, representing about 0.74% of the company. Institutional investors and hedge funds collectively own 95.81% of WSC.
• Analysts maintain a generally neutral outlook, with an average rating of “Hold” and an average price target of $26.50; targets range from $26 to $30.
• WillScot beat quarterly earnings and revenue expectations, reporting $0.28 EPS and $612.15 million in revenue, while announcing a quarterly dividend of $0.07 per share.

Bank of New York Mellon Corp acquired a new stake in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,334,033 shares of the company's stock, valued at approximately $38,500,000. Bank of New York Mellon Corp owned approximately 0.74% of WillScot as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of WSC. CWM LLC boosted its holdings in WillScot by 37.7% during the fourth quarter. CWM LLC now owns 2,071 shares of the company's stock valued at $39,000 after acquiring an additional 567 shares during the period. Parallel Advisors LLC boosted its stake in WillScot by 149.9% during the 4th quarter. Parallel Advisors LLC now owns 2,064 shares of the company's stock valued at $39,000 after purchasing an additional 1,238 shares during the period. Danske Bank A S acquired a new stake in WillScot in the 3rd quarter valued at approximately $44,000. Advisors Asset Management Inc. boosted its holdings in WillScot by 160.4% in the 4th quarter. Advisors Asset Management Inc. now owns 2,961 shares of the company's stock valued at $56,000 after purchasing an additional 1,824 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of WillScot by 130.3% during the third quarter. CIBC Private Wealth Group LLC now owns 2,766 shares of the company's stock valued at $58,000 after buying an additional 1,565 shares during the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on WSC. Robert W. Baird set a $26.00 price objective on WillScot in a research report on Friday, May 8th. Morgan Stanley lifted their price target on shares of WillScot from $23.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 12th. Citigroup increased their price objective on shares of WillScot from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Oppenheimer reiterated an "outperform" rating and set a $29.00 target price on shares of WillScot in a research report on Friday, May 8th. Finally, Wall Street Zen raised WillScot from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $26.50.

WillScot Trading Down 0.2%

WSC stock opened at $20.90 on Friday. The business has a fifty day moving average of $25.34 and a 200-day moving average of $23.30. The company has a market cap of $3.79 billion, a P/E ratio of -55.00, a PEG ratio of 1.23 and a beta of 1.33. WillScot Holdings Corporation has a twelve month low of $14.91 and a twelve month high of $29.77. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.80.

WillScot (NASDAQ:WSC - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%.The firm had revenue of $612.15 million for the quarter, compared to analyst estimates of $585.43 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts expect that WillScot Holdings Corporation will post 1.12 EPS for the current year.

WillScot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. WillScot's payout ratio is currently -73.68%.

WillScot Company Profile

WillScot NASDAQ: WSC is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.

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