Assenagon Asset Management S.A. Makes New Investment in WillScot Holdings Corporation $WSC

Key Points

• Assenagon Asset Management S.A. has acquired a new stake in WillScot Holdings Corporation, purchasing 33,252 shares valued at approximately $911,000 in the second quarter.
• Several hedge funds, including First Hawaiian Bank and GAMMA Investing LLC, have increased their stakes in WillScot, with institutional investors owning 95.81% of the company's stock.
• WillScot reported a missed earnings estimate of $0.27 EPS for the quarter compared to the consensus of $0.36 EPS, with revenue of $589.08 million.

Assenagon Asset Management S.A. acquired a new stake in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 33,252 shares of the company's stock, valued at approximately $911,000.

Several other hedge funds also recently modified their holdings of WSC. First Hawaiian Bank increased its stake in shares of WillScot by 16.0% in the 1st quarter. First Hawaiian Bank now owns 23,522 shares of the company's stock valued at $654,000 after acquiring an additional 3,250 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of WillScot by 17.6% in the 1st quarter. Central Pacific Bank Trust Division now owns 14,472 shares of the company's stock valued at $402,000 after acquiring an additional 2,168 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of WillScot by 10,274.8% in the 1st quarter. GAMMA Investing LLC now owns 25,937 shares of the company's stock valued at $721,000 after acquiring an additional 25,687 shares in the last quarter. Rhumbline Advisers increased its stake in shares of WillScot by 125.0% in the 1st quarter. Rhumbline Advisers now owns 427,041 shares of the company's stock valued at $11,872,000 after acquiring an additional 237,256 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its stake in shares of WillScot by 15.0% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,146,929 shares of the company's stock valued at $31,885,000 after acquiring an additional 149,236 shares in the last quarter. Institutional investors own 95.81% of the company's stock.

WillScot Stock Performance

Shares of WSC stock opened at $20.56 on Friday. The firm has a market capitalization of $3.74 billion, a PE ratio of 34.27, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13. The firm has a fifty day simple moving average of $24.95 and a two-hundred day simple moving average of $26.54. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.55. WillScot Holdings Corporation has a 12 month low of $20.52 and a 12 month 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 return on equity of 24.83% and a net margin of 4.66%.The firm had revenue of $589.08 million during the quarter, compared to the consensus estimate of $587.07 million. During the same quarter in the previous year, the company earned $0.39 EPS. The business's revenue was down 2.6% compared to the same quarter last year. WillScot has set its FY 2025 guidance at EPS. Analysts forecast that WillScot Holdings Corporation will post 1.77 EPS for the current fiscal year.

WillScot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a $0.07 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. WillScot's dividend payout ratio is presently 46.67%.

Insider Buying and Selling at WillScot

In other news, CEO Bradley Lee Soultz bought 2,000 shares of WillScot stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average price of $24.85 per share, for a total transaction of $49,700.00. Following the purchase, the chief executive officer directly owned 418,376 shares in the company, valued at $10,396,643.60. The trade was a 0.48% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Hezron T. Lopez sold 22,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total transaction of $541,860.00. Following the transaction, the executive vice president owned 54,038 shares of the company's stock, valued at approximately $1,330,955.94. The trade was a 28.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WSC shares. Barclays lowered their price objective on shares of WillScot from $34.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday. DA Davidson decreased 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. Finally, Morgan Stanley decreased their price target 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. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $34.00.

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.

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