SCS Capital Management LLC Acquires New Stake in WillScot Holdings Corporation $WSC

Key Points

• SCS Capital Management LLC purchased 25,035 shares of WillScot Holdings Corporation for approximately $696,000 during the first quarter.
• Vanguard Group Inc. increased its holdings in WillScot by 11.7%, now owning over 18 million shares valued at approximately $509 million.
• The company announced a quarterly dividend of $0.07 per share, with a payout ratio of 46.67%, and a yield of 1.2%.

SCS Capital Management LLC acquired a new position in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,035 shares of the company's stock, valued at approximately $696,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSC. Amalgamated Bank grew its holdings in shares of WillScot by 444.7% during the first quarter. Amalgamated Bank now owns 56,374 shares of the company's stock valued at $1,567,000 after buying an additional 46,024 shares during the last quarter. GAMMA Investing LLC lifted its position in WillScot by 273.2% during the first quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after purchasing an additional 683 shares during the period. KBC Group NV raised its position in WillScot by 16.7% in the first quarter. KBC Group NV now owns 9,166 shares of the company's stock worth $255,000 after acquiring an additional 1,312 shares during the period. New York State Teachers Retirement System bought a new position in WillScot in the first quarter worth approximately $1,148,000. Finally, Allspring Global Investments Holdings LLC bought a new position in WillScot in the first quarter worth approximately $10,987,000. Hedge funds and other institutional investors own 95.81% of the company's stock.

WillScot Stock Performance

NASDAQ:WSC traded down $0.16 during trading hours on Tuesday, hitting $23.15. 437,161 shares of the company were exchanged, compared to its average volume of 2,604,315. The company's 50 day moving average price is $26.37 and its 200-day moving average price is $27.02. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 38.61, a PEG ratio of 2.05 and a beta of 1.13. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.81 and a quick ratio of 0.74. WillScot Holdings Corporation has a 52-week low of $21.91 and a 52-week high of $42.15.

WillScot (NASDAQ:WSC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.09). WillScot had a net margin of 4.66% and a return on equity of 24.83%. The firm had revenue of $589.08 million during the quarter, compared to analyst estimates of $587.07 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The business's revenue for the quarter was down 2.6% on a year-over-year basis. WillScot has set its FY 2025 guidance at EPS. As a group, research analysts forecast that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. WillScot's dividend payout ratio (DPR) is 46.67%.

Insider Activity

In other news, EVP Hezron T. Lopez sold 22,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total value of $541,860.00. Following the completion of the transaction, the executive vice president owned 54,038 shares of the company's stock, valued at approximately $1,330,955.94. This trade represents a 28.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bradley Lee Soultz bought 3,000 shares of WillScot stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average cost of $25.35 per share, for a total transaction of $76,050.00. Following the acquisition, the chief executive officer owned 126,817 shares of the company's stock, valued at $3,214,810.95. This represents a 2.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

WSC has been the subject of several research analyst reports. Morgan Stanley cut their target price on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. William Blair reissued a "market perform" rating on shares of WillScot in a research note on Thursday, May 29th. Finally, DA Davidson dropped their price target on shares of WillScot from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $36.00.

WillScot Profile

WillScot Holdings Corporation provides workspace and portable storage solutions in the United States, Canada, and Mexico. It operates in two segments, Modular Solutions and Storage Solutions. Its modular solutions include panelized and stackable offices, single-wide modular space units, section modulars and redi-plex, classrooms, ground level offices, blast-resistant modules, clearspan structures, and other modular space; and portable storage solutions, such as portable and cold storage containers, as well as trailers.