Allspring Global Investments Holdings LLC Acquires New Stake in WillScot Holdings Corporation (NASDAQ:WSC)

Allspring Global Investments Holdings LLC bought a new position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 399,814 shares of the company's stock, valued at approximately $10,987,000. Allspring Global Investments Holdings LLC owned approximately 0.22% of WillScot as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Generate Investment Management Ltd lifted its stake in WillScot by 25.1% in the first quarter. Generate Investment Management Ltd now owns 803,643 shares of the company's stock worth $22,341,000 after purchasing an additional 161,237 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of WillScot by 428.2% during the first quarter. Golden State Wealth Management LLC now owns 1,384 shares of the company's stock valued at $38,000 after buying an additional 1,122 shares during the last quarter. Buck Wealth Strategies LLC increased its position in shares of WillScot by 27.3% during the first quarter. Buck Wealth Strategies LLC now owns 136,579 shares of the company's stock valued at $3,797,000 after acquiring an additional 29,272 shares in the last quarter. Osborne Partners Capital Management LLC grew its position in WillScot by 5.2% in the 1st quarter. Osborne Partners Capital Management LLC now owns 327,427 shares of the company's stock worth $9,102,000 after purchasing an additional 16,142 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in WillScot in the 1st quarter worth approximately $2,845,000. Institutional investors own 95.81% of the company's stock.

Wall Street Analyst Weigh In

WSC has been the topic of several research analyst reports. Morgan Stanley boosted their price target on shares of WillScot from $38.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Robert W. Baird dropped their price objective on shares of WillScot from $38.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Barclays decreased their target price on shares of WillScot from $40.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. William Blair reaffirmed a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. Finally, Oppenheimer reduced their target price on shares of WillScot from $41.00 to $38.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, WillScot presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.63.

Insider Transactions at WillScot

In other news, Director Dominick P. Zarcone purchased 10,000 shares of WillScot stock in a transaction dated Tuesday, June 17th. The shares were bought at an average cost of $26.19 per share, for a total transaction of $261,900.00. Following the completion of the acquisition, the director owned 15,384 shares in the company, valued at approximately $402,906.96. This trade represents a 185.74% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bradley Lee Soultz purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $26.79 per share, with a total value of $267,900.00. Following the acquisition, the chief executive officer directly owned 128,817 shares of the company's stock, valued at $3,451,007.43. This represents a 8.42% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is owned by insiders.

WillScot Stock Performance

Shares of WillScot stock traded down $0.65 during midday trading on Monday, hitting $28.25. The company had a trading volume of 1,931,876 shares, compared to its average volume of 2,681,879. WillScot Holdings Corporation has a 1-year low of $21.91 and a 1-year high of $43.80. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.83 and a quick ratio of 0.76. The business's 50 day simple moving average is $27.56 and its two-hundred day simple moving average is $30.38. The stock has a market cap of $5.15 billion, a PE ratio of 313.92, a P/E/G ratio of 1.58 and a beta of 1.24.

WillScot (NASDAQ:WSC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). WillScot had a net margin of 0.63% and a return on equity of 26.28%. The company had revenue of $559.55 million during the quarter, compared to the consensus estimate of $555.51 million. During the same period last year, the company earned $0.29 earnings per share. The business's revenue was down 4.7% compared to the same quarter last year. As a group, equities analysts predict that WillScot Holdings Corporation will post 1.77 EPS for the current fiscal year.

WillScot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, June 4th. WillScot's dividend payout ratio is 311.11%.

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.