Bessemer Group Inc. Reduces Stock Position in WillScot Holdings Corporation (NASDAQ:WSC)

Bessemer Group Inc. lessened its stake in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,852,609 shares of the company's stock after selling 1,833,807 shares during the quarter. Bessemer Group Inc. owned 1.01% of WillScot worth $51,502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of WillScot by 273.2% in the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after buying an additional 683 shares during the period. State of Wyoming acquired a new position in shares of WillScot in the 4th quarter valued at about $34,000. Jones Financial Companies Lllp lifted its holdings in shares of WillScot by 93.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,303 shares of the company's stock valued at $77,000 after buying an additional 1,113 shares during the period. Fifth Third Bancorp raised its holdings in WillScot by 28.0% in the 1st quarter. Fifth Third Bancorp now owns 2,358 shares of the company's stock worth $66,000 after purchasing an additional 516 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in WillScot in the 4th quarter worth about $154,000. Institutional investors and hedge funds own 95.81% of the company's stock.

WillScot Price Performance

Shares of WillScot stock traded up $0.43 during mid-day trading on Friday, reaching $28.38. 2,035,216 shares of the stock traded hands, compared to its average volume of 2,688,161. The business has a 50-day moving average of $27.07 and a 200 day moving average of $30.60. WillScot Holdings Corporation has a fifty-two week low of $21.91 and a fifty-two week high of $43.80. The stock has a market capitalization of $5.18 billion, a PE ratio of 315.37, a PEG ratio of 1.56 and a beta of 1.25. 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 announced its 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 firm had revenue of $559.55 million for the quarter, compared to analyst estimates of $555.51 million. During the same period in the previous year, the company earned $0.29 EPS. WillScot's revenue was down 4.7% compared to the same quarter last year. On average, analysts predict that WillScot Holdings Corporation will post 1.77 EPS for the current year.

WillScot Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WSC shares. Morgan Stanley upped their price target on WillScot from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. William Blair reaffirmed a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. Oppenheimer reduced their price target on WillScot from $41.00 to $38.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Robert W. Baird reduced their price target on WillScot from $38.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Finally, Barclays reduced their price target on WillScot from $40.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $40.63.

Insider Activity

In related news, Director Dominick P. Zarcone purchased 10,000 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was acquired at an average cost of $26.19 per share, for a total transaction of $261,900.00. Following the completion of the transaction, the director now directly owns 15,384 shares of the company's stock, valued at approximately $402,906.96. This trade represents a 185.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.10% of the company's stock.

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.