Allspring Global Investments Holdings LLC Raises Holdings in WillScot Holdings Corporation $WSC

Key Points

• Allspring Global Investments Holdings LLC has increased its holdings in WillScot Holdings Corporation by 33.0%, bringing its total shares to 531,576, valued at approximately $15.1 million.
• WillScot reported a quarterly earnings per share of $0.27, missing analysts' expectations of $0.36, despite generating revenues of $589.08 million.
• The company recently declared a quarterly dividend of $0.07 per share, translating to a 1.3% dividend yield and a payout ratio of 46.67%.

Allspring Global Investments Holdings LLC increased its position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 33.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 531,576 shares of the company's stock after buying an additional 131,762 shares during the period. Allspring Global Investments Holdings LLC owned 0.29% of WillScot worth $15,086,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of WillScot by 273.2% during the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company's stock worth $26,000 after acquiring an additional 683 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in WillScot by 428.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,384 shares of the company's stock worth $38,000 after purchasing an additional 1,122 shares during the period. CWM LLC boosted its position in WillScot by 89.9% during the first quarter. CWM LLC now owns 1,747 shares of the company's stock worth $49,000 after purchasing an additional 827 shares in the last quarter. Fifth Third Bancorp boosted its position in WillScot by 28.0% during the first quarter. Fifth Third Bancorp now owns 2,358 shares of the company's stock worth $66,000 after purchasing an additional 516 shares in the last quarter. Finally, Quarry LP acquired a new stake in WillScot in the first quarter valued at approximately $80,000. Hedge funds and other institutional investors own 95.81% of the company's stock.

WillScot Price Performance

Shares of NASDAQ WSC opened at $21.14 on Friday. The firm has a 50-day simple moving average of $22.95 and a 200-day simple moving average of $25.76. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.55. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. WillScot Holdings Corporation has a 52 week low of $20.08 and a 52 week high of $42.15.

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

WillScot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, September 3rd. WillScot's dividend payout ratio (DPR) is currently 46.67%.

Insider Buying and Selling

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

Analysts Set New Price Targets

WSC has been the subject of several research analyst reports. Barclays reduced their target price on WillScot from $34.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 24th. UBS Group set a $35.00 price objective on shares of WillScot in a research report on Tuesday, September 30th. DA Davidson decreased their price objective on shares of WillScot from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, September 30th. 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. Finally, Jefferies Financial Group reduced their price target on shares of WillScot from $32.00 to $23.00 and set a "hold" rating for the company in a research report on Monday, September 29th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $32.13.

WillScot Company 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.

Want to see what other hedge funds are holding WSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WillScot Holdings Corporation (NASDAQ:WSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.