WillScot Holdings Corporation $WSC is Coliseum Capital Management LLC's 9th Largest Position

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 holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 19.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,627,552 shares of the company's stock after selling 396,548 shares during the period. WillScot comprises 3.8% of Coliseum Capital Management LLC's portfolio, making the stock its 9th largest holding. Coliseum Capital Management LLC owned 0.89% of WillScot worth $45,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Baillie Gifford & Co. purchased a new stake in shares of WillScot in the first quarter worth $145,392,000. Vanguard Group Inc. increased its stake in shares of WillScot by 11.7% in the first quarter. Vanguard Group Inc. now owns 18,338,511 shares of the company's stock worth $509,811,000 after purchasing an additional 1,924,653 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of WillScot by 1,246.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,229,196 shares of the company's stock worth $41,117,000 after purchasing an additional 1,137,890 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of WillScot by 8,012.5% in the first quarter. Principal Financial Group Inc. now owns 917,765 shares of the company's stock worth $25,514,000 after purchasing an additional 906,452 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. increased its stake in shares of WillScot by 23.9% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 3,594,848 shares of the company's stock worth $120,248,000 after purchasing an additional 693,243 shares in the last quarter. 95.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at WillScot

In related news, EVP Hezron T. Lopez sold 22,000 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total value of $541,860.00. Following the completion of the sale, the executive vice president owned 54,038 shares of the company's stock, valued at approximately $1,330,955.94. The trade was a 28.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bradley Lee Soultz bought 2,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average cost of $24.85 per share, with a total value of $49,700.00. Following the acquisition, the chief executive officer directly owned 418,376 shares of the company's stock, valued at approximately $10,396,643.60. This represents a 0.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 15,000 shares of company stock worth $387,650. Company insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. William Blair reissued a "market perform" rating on shares of WillScot in a research note on Thursday, May 29th. Morgan Stanley cut their target price on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, DA Davidson cut their target price on shares of WillScot from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $36.00.

WillScot Stock Down 2.2%

Shares of WillScot stock traded down $0.51 on Tuesday, reaching $22.70. The stock had a trading volume of 972,861 shares, compared to its average volume of 2,621,205. The company has a 50 day moving average price of $26.92 and a 200 day moving average price of $27.39. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.55. WillScot Holdings Corporation has a 1 year low of $21.91 and a 1 year high of $42.15. The stock has a market capitalization of $4.13 billion, a P/E ratio of 37.79, a P/E/G ratio of 2.12 and a beta of 1.14.

WillScot (NASDAQ:WSC - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $589.08 million during the quarter, compared to analysts' expectations of $587.07 million. WillScot had a return on equity of 24.83% and a net margin of 4.66%.The firm's quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. WillScot has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that WillScot Holdings Corporation will post 1.77 EPS for the current year.

WillScot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, September 3rd. WillScot's payout ratio is presently 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.