WillScot Holdings Corporation $WSC Shares Purchased by Broad Bay Capital Management LP

Key Points

• Broad Bay Capital Management LP increased its stake in WillScot Holdings Corporation by 24.1%, owning approximately $52.07 million worth of shares, making it the 4th largest holding in their portfolio.
• Several institutional investors have significantly raised their positions, with GAMMA Investing LLC growing its stake by 273.2% in the first quarter.
• WillScot's latest quarterly report showed earnings per share of $0.27, missing estimates, alongside a 2.6% decline in revenue compared to the previous year.

Broad Bay Capital Management LP raised its stake in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 24.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,872,825 shares of the company's stock after purchasing an additional 363,325 shares during the quarter. WillScot accounts for 7.6% of Broad Bay Capital Management LP's portfolio, making the stock its 4th largest holding. Broad Bay Capital Management LP owned approximately 1.02% of WillScot worth $52,065,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in WillScot by 273.2% during the first 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. State of Wyoming acquired a new position in WillScot during the fourth quarter worth $34,000. Golden State Wealth Management LLC raised its stake in WillScot by 428.2% during the first quarter. Golden State Wealth Management LLC now owns 1,384 shares of the company's stock worth $38,000 after acquiring an additional 1,122 shares in the last quarter. CWM LLC raised its stake 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 acquiring an additional 827 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake 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 acquiring an additional 516 shares in the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at WillScot

In related news, Director Dominick P. Zarcone acquired 10,000 shares of the stock in a transaction dated Tuesday, June 17th. The stock was bought at an average price of $26.19 per share, with a total value of $261,900.00. Following the completion of the transaction, the director directly owned 15,384 shares of the company's stock, valued at approximately $402,906.96. The trade was a 185.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bradley Lee Soultz acquired 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average cost of $24.85 per share, for a total transaction of $49,700.00. Following the completion of the transaction, the chief executive officer directly owned 418,376 shares in the company, valued at $10,396,643.60. This represents a 0.48% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,000 shares of company stock valued at $387,650 over the last 90 days. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley dropped their price objective on WillScot from $39.00 to $37.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. DA Davidson decreased their target price on WillScot from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Finally, William Blair restated a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $36.00.

WillScot Trading Down 1.3%

WillScot stock traded down $0.32 during mid-day trading on Monday, hitting $24.24. The stock had a trading volume of 1,962,519 shares, compared to its average volume of 2,412,970. 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 $21.91 and a 12 month high of $42.15. The stock has a market capitalization of $4.41 billion, a PE ratio of 40.40, a P/E/G ratio of 2.16 and a beta of 1.14. The stock has a 50-day simple moving average of $27.35 and a two-hundred day simple moving average of $27.89.

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

WillScot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. WillScot's dividend payout ratio (DPR) is currently 46.67%.

About WillScot

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.