WillScot Holdings Corporation (NASDAQ:WSC) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 59.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,141,856 shares of the company's stock after purchasing an additional 425,850 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of WillScot worth $31,744,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in WillScot by 444.7% during the first quarter. Amalgamated Bank now owns 56,374 shares of the company's stock valued at $1,567,000 after purchasing an additional 46,024 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of WillScot by 273.2% during the first quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after acquiring an additional 683 shares in the last quarter. KBC Group NV increased its holdings in shares of WillScot by 16.7% during the first quarter. KBC Group NV now owns 9,166 shares of the company's stock valued at $255,000 after acquiring an additional 1,312 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of WillScot during the first quarter valued at about $10,987,000. Finally, New York State Teachers Retirement System acquired a new position in shares of WillScot during the first quarter valued at about $1,148,000. 95.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WSC. Morgan Stanley increased their price target on shares of WillScot from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Barclays cut their price target on shares of WillScot from $40.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Finally, William Blair reiterated a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $40.63.

Insider Activity

In related news, Director Dominick P. Zarcone acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was acquired at an average price of $26.19 per share, for a total transaction of $261,900.00. Following the purchase, the director owned 15,384 shares of the company's stock, valued at $402,906.96. This represents a 185.74% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bradley Lee Soultz acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $26.79 per share, with a total value of $267,900.00. Following the purchase, the chief executive officer directly owned 128,817 shares in the company, valued at approximately $3,451,007.43. This trade represents a 8.42% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.10% of the company's stock.

WillScot Trading Up 2.6%

Shares of WSC traded up $0.78 during midday trading on Thursday, reaching $30.44. The company had a trading volume of 636,995 shares, compared to its average volume of 2,656,390. WillScot Holdings Corporation has a 1-year low of $21.91 and a 1-year high of $43.80. The stock has a market cap of $5.55 billion, a PE ratio of 337.80, a price-to-earnings-growth ratio of 1.62 and a beta of 1.24. The firm has a 50 day simple moving average of $28.13 and a 200-day simple moving average of $30.19. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 3.56.

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

WillScot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.92%. The ex-dividend date was Wednesday, June 4th. WillScot's dividend payout ratio is currently 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.