Clearline Capital LP Buys 221,753 Shares of WillScot Holdings Corporation $WSC

Key Points

• Clearline Capital LP increased its stake in WillScot Holdings Corporation by 69.8%, owning a total of 539,277 shares worth approximately $14.99 million.
• WillScot reported earnings of $0.27 EPS, missing expectations, with a net margin of 4.66% and a revenue of $589.08 million for the quarter.
• The company announced a quarterly dividend of $0.07 per share, representing an annualized yield of 1.2%, with a payout ratio of 46.67%.

Clearline Capital LP grew its holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 69.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 539,277 shares of the company's stock after purchasing an additional 221,753 shares during the quarter. WillScot comprises about 0.9% of Clearline Capital LP's investment portfolio, making the stock its 24th biggest position. Clearline Capital LP owned approximately 0.29% of WillScot worth $14,992,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in WillScot by 273.2% in the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company's stock worth $26,000 after acquiring an additional 683 shares during the period. State of Wyoming bought a new position in shares of WillScot during the 4th quarter worth about $34,000. Golden State Wealth Management LLC increased its holdings in shares of WillScot by 428.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,384 shares of the company's stock worth $38,000 after purchasing an additional 1,122 shares during the period. CWM LLC increased its holdings in shares of WillScot by 89.9% during the 1st quarter. CWM LLC now owns 1,747 shares of the company's stock worth $49,000 after purchasing an additional 827 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of WillScot by 28.0% during 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. Institutional investors own 95.81% of the company's stock.

Insider Buying and Selling at WillScot

In related news, Director Dominick P. Zarcone bought 10,000 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was bought at an average cost of $26.19 per share, with a total value of $261,900.00. Following the completion of the purchase, the director owned 15,384 shares in the company, valued at approximately $402,906.96. The trade was a 185.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Hezron T. Lopez sold 22,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $24.63, for a total transaction of $541,860.00. Following the completion of the transaction, the executive vice president directly owned 54,038 shares of the company's stock, valued at approximately $1,330,955.94. This represents a 28.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 15,000 shares of company stock worth $387,650 over the last ninety days. Corporate insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

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

WillScot Price Performance

NASDAQ:WSC traded down $0.53 on Friday, reaching $23.01. The stock had a trading volume of 1,889,275 shares, compared to its average volume of 1,921,773. The company has a market capitalization of $4.19 billion, a P/E ratio of 38.35, a price-to-earnings-growth ratio of 2.10 and a beta of 1.13. WillScot Holdings Corporation has a 1-year low of $21.91 and a 1-year high of $42.15. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.55. The stock has a fifty day moving average price of $26.47 and a 200-day moving average price of $27.17.

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

WillScot Dividend Announcement

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

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.