90,000 WillScot Holdings Corporation $WSC Shares Sold by Redmond Asset Management LLC

Key Points

• Redmond Asset Management cut its WillScot stake by 66.5% in the third quarter, selling 90,000 shares and retaining 45,415 shares valued at approximately $780,000.
• WillScot reported quarterly revenue of $612.15 million and earnings of $0.28 per share, exceeding analyst estimates; revenue increased 3.9% year over year.
• Analysts maintain a consensus “Hold” rating, with an average price target of $24.86, while the company pays a quarterly dividend of $0.07 per share.

Redmond Asset Management LLC decreased its holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 66.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,415 shares of the company's stock after selling 90,000 shares during the period. Redmond Asset Management LLC's holdings in WillScot were worth $780,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WSC. Ancora Advisors LLC acquired a new position in WillScot in the second quarter valued at approximately $43,000. Signaturefd LLC boosted its holdings in shares of WillScot by 73.6% during the 3rd quarter. Signaturefd LLC now owns 1,746 shares of the company's stock worth $30,000 after buying an additional 740 shares in the last quarter. Elevation Wealth Partners LLC boosted its holdings in shares of WillScot by 620.5% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,758 shares of the company's stock worth $30,000 after buying an additional 1,514 shares in the last quarter. Parallel Advisors LLC grew its position in shares of WillScot by 96.3% during the 1st quarter. Parallel Advisors LLC now owns 4,051 shares of the company's stock worth $70,000 after buying an additional 1,987 shares during the period. Finally, Leonteq Securities AG grew its position in shares of WillScot by 23.1% during the 1st quarter. Leonteq Securities AG now owns 4,476 shares of the company's stock worth $78,000 after buying an additional 841 shares during the period. Institutional investors and hedge funds own 95.81% of the company's stock.

WillScot Stock Up 1.9%

Shares of NASDAQ:WSC opened at $17.98 on Thursday. The business's 50 day simple moving average is $18.40 and its two-hundred day simple moving average is $21.92. The firm has a market cap of $3.26 billion, a P/E ratio of -47.32, a PEG ratio of 0.94 and a beta of 1.40. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.74 and a current ratio of 0.81. WillScot Holdings Corporation has a 52-week low of $14.91 and a 52-week high of $29.77.

WillScot (NASDAQ:WSC - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $585.43 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company's quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that WillScot Holdings Corporation will post 1.13 EPS for the current fiscal year.

WillScot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, September 2nd. WillScot's payout ratio is -73.68%.

Wall Street Analyst Weigh In

WSC has been the subject of several research analyst reports. Weiss Ratings reiterated a "sell (d)" rating on shares of WillScot in a research note on Monday, August 17th. Barclays increased their target price on shares of WillScot from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Robert W. Baird cut their target price on shares of WillScot from $28.00 to $21.00 and set a "neutral" rating on the stock in a research note on Monday, October 12th. UBS Group reduced their price target on shares of WillScot from $29.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, October 16th. Finally, Citigroup decreased their price target on shares of WillScot from $30.00 to $21.00 and set a "buy" rating for the company in a research note on Monday, October 12th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, WillScot has a consensus rating of "Hold" and an average target price of $24.86.

WillScot Company Profile

WillScot Holdings Corporation NASDAQ: WSC provides flexible workspace and storage solutions primarily to customers across North America. The company offers modular buildings, mobile offices, portable classrooms, storage units and other temporary or permanent space solutions for businesses, schools, construction sites, health care organizations, government agencies and other institutions.

In addition to renting and selling modular space and portable storage products, WillScot provides related services such as delivery, installation, relocation, site improvements, furnishings and facility services.

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