Bank of America Corp DE Grows Holdings in WillScot Holdings Corporation $WSC

Key Points

• Bank of America increased its WillScot stake by 8.2% in the first quarter, bringing its holdings to 1.37 million shares valued at approximately $23.8 million. Institutional investors collectively own 95.81% of the company.
• Analysts remain mixed, with three Buy, seven Hold and one Sell rating; the average rating is Hold with an average price target of $26.50, while individual targets range as high as $30.
• WillScot reported quarterly EPS of $0.28, beating estimates by $0.03, and revenue of $612.15 million, up 3.9% year over year. The company also declared a $0.07 quarterly dividend, equivalent to a 1.2% annualized yield.

Bank of America Corp DE raised its stake in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,370,062 shares of the company's stock after buying an additional 104,275 shares during the period. Bank of America Corp DE owned about 0.76% of WillScot worth $23,784,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new position in shares of WillScot in the 4th quarter worth about $757,000. Hsbc Holdings PLC raised its holdings in shares of WillScot by 494.6% during the 4th quarter. Hsbc Holdings PLC now owns 56,917 shares of the company's stock valued at $1,073,000 after buying an additional 47,344 shares in the last quarter. Clearline Capital LP lifted its position in WillScot by 79.4% in the 4th quarter. Clearline Capital LP now owns 160,940 shares of the company's stock worth $3,030,000 after buying an additional 71,251 shares during the last quarter. Mraz Amerine & Associates Inc. lifted its position in WillScot by 65.7% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 108,217 shares of the company's stock worth $2,038,000 after buying an additional 42,915 shares during the last quarter. Finally, Van Berkom & Associates Inc. lifted its position in WillScot by 4.0% in the 4th quarter. Van Berkom & Associates Inc. now owns 3,176,865 shares of the company's stock worth $59,820,000 after buying an additional 122,229 shares during the last quarter. Hedge funds and other institutional investors own 95.81% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on WSC shares. Morgan Stanley increased their price target on shares of WillScot from $23.00 to $29.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 12th. Barclays upped their price objective on shares of WillScot from $24.00 to $26.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of WillScot in a report on Wednesday, May 20th. Oppenheimer reiterated an "outperform" rating and issued a $29.00 target price on shares of WillScot in a research report on Friday, May 8th. Finally, Citigroup boosted their price target on shares of WillScot from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $26.50.

WillScot Trading Down 0.8%

Shares of WSC opened at $23.58 on Tuesday. The stock has a market capitalization of $4.26 billion, a P/E ratio of -62.05, a PEG ratio of 1.39 and a beta of 1.33. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.80. The firm has a fifty day simple moving average of $26.45 and a two-hundred day simple moving average of $23.25. WillScot Holdings Corporation has a twelve month low of $14.91 and a twelve month 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. The firm had revenue of $612.15 million for the quarter, compared to analysts' expectations of $585.43 million. WillScot had a negative net margin of 3.00% and a positive return on equity of 21.62%. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 earnings per share. On average, research analysts anticipate that WillScot Holdings Corporation will post 1.12 EPS for the current year.

WillScot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, September 2nd. WillScot's payout ratio is currently -73.68%.

WillScot Profile

WillScot NASDAQ: WSC is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.

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