Comerica Bank Purchases 102,678 Shares of WillScot Holdings Corporation $WSC

Key Points

• Comerica Bank has increased its holdings in WillScot Holdings Corporation by 21.3%, owning approximately $16.25 million worth of stock after acquiring 102,678 shares in the first quarter.
• WillScot's recent earnings report showed a decline in earnings per share, missing analyst estimates with $0.27 EPS compared to the expected $0.36 EPS, alongside a net margin of 4.66%.
• The company announced a quarterly dividend of $0.07 per share, reflecting an annual yield of 1.1%, with a dividend payout ratio of 46.67%.

Comerica Bank boosted its stake in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 21.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 584,412 shares of the company's stock after buying an additional 102,678 shares during the period. Comerica Bank owned approximately 0.32% of WillScot worth $16,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSC. GAMMA Investing LLC increased its position in WillScot by 273.2% during 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 in the last quarter. State of Wyoming bought a new position in WillScot during the 4th quarter valued at approximately $34,000. Golden State Wealth Management LLC increased its holdings in shares of WillScot by 428.2% in 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 in the last quarter. CWM LLC increased its holdings in shares of WillScot by 89.9% in the 1st quarter. CWM LLC now owns 1,747 shares of the company's stock worth $49,000 after purchasing an additional 827 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of 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 in the last quarter. Institutional investors own 95.81% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other WillScot news, CEO Bradley Lee Soultz bought 3,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $25.35 per share, with a total value of $76,050.00. Following the completion of the purchase, the chief executive officer owned 126,817 shares in the company, valued at $3,214,810.95. This represents a 2.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dominick P. Zarcone bought 10,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were acquired at an average cost of $26.19 per share, for a total transaction of $261,900.00. Following the purchase, the director owned 15,384 shares of the company's stock, 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. Insiders bought 15,000 shares of company stock valued at $387,650 over the last three months. 3.10% of the stock is owned by company insiders.

WillScot Trading Down 1.3%

NASDAQ WSC traded down $0.32 during trading hours on Friday, hitting $24.24. 1,962,519 shares of the company were exchanged, compared to its average volume of 2,646,627. The stock has a 50-day moving average price of $27.44 and a 200 day moving average price of $28.21. 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 52 week low of $21.91 and a 52 week high of $42.15. The stock has a market cap of $4.41 billion, a PE ratio of 40.40, a price-to-earnings-growth ratio of 2.22 and a beta of 1.20.

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

WillScot Dividend Announcement

The company 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 of this dividend 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.