Coliseum Capital Management LLC Sells 396,548 Shares of WillScot Holdings Corporation $WSC

Key Points

• Coliseum Capital Management LLC reduced its stake in WillScot Holdings Corporation by 19.6%, after selling 396,548 shares, now holding approximately $45.25 million worth of stock.
• WillScot reported a quarterly earnings miss, with earnings per share at $0.27, below the expected $0.36, and a revenue decline of 2.6% year-over-year.
• The company has announced a quarterly dividend of $0.07 per share with a payout ratio of 46.67%, scheduled for payment on September 17th.

Coliseum Capital Management LLC reduced its position in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,627,552 shares of the company's stock after selling 396,548 shares during the period. WillScot comprises about 3.8% of Coliseum Capital Management LLC's portfolio, making the stock its 9th biggest holding. Coliseum Capital Management LLC owned about 0.89% of WillScot worth $45,246,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WSC. Northern Trust Corp raised its position in WillScot by 9.2% during the fourth quarter. Northern Trust Corp now owns 1,146,903 shares of the company's stock worth $38,364,000 after acquiring an additional 96,589 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in WillScot during the fourth quarter worth $222,000. Ameriprise Financial Inc. raised its position in WillScot by 4.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,832,316 shares of the company's stock worth $161,641,000 after acquiring an additional 223,462 shares during the period. BNP Paribas Financial Markets acquired a new position in WillScot during the fourth quarter worth $285,000. Finally, Cary Street Partners Financial LLC acquired a new position in WillScot during the fourth quarter worth $235,000. 95.81% of the stock is currently owned by institutional investors and hedge funds.

WillScot Price Performance

WSC stock traded down $0.51 during trading on Monday, hitting $23.20. The stock had a trading volume of 2,226,414 shares, compared to its average volume of 2,631,304. The company's 50 day moving average price is $27.01 and its two-hundred day moving average price is $27.47. WillScot Holdings Corporation has a 1-year low of $21.91 and a 1-year high of $42.15. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 38.67, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.74 and a current ratio of 0.81.

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

WillScot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given 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 of this dividend is Wednesday, September 3rd. WillScot's dividend payout ratio is 46.67%.

Analyst Upgrades and Downgrades

WSC has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. William Blair reiterated a "market perform" rating on shares of WillScot in a research report on Thursday, May 29th. Finally, DA Davidson reduced their target price on shares of WillScot from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, WillScot has an average rating of "Hold" and a consensus price target of $36.00.

Insider Buying and Selling

In other WillScot news, EVP Hezron T. Lopez sold 22,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $24.63, for a total value of $541,860.00. Following the completion of the transaction, the executive vice president owned 54,038 shares in the company, valued at $1,330,955.94. This represents a 28.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dominick P. Zarcone bought 10,000 shares of WillScot stock in a transaction dated Tuesday, June 17th. The shares were acquired at an average price 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 disclosure for this purchase can be found here. In the last quarter, insiders acquired 15,000 shares of company stock valued at $387,650. 3.10% of the stock is currently owned by corporate insiders.

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.