Comerica Bank Sells 75,662 Shares of WillScot Holdings Corporation $WSC

Key Points

• Comerica Bank cut its WillScot stake by 35.1%, selling 75,662 shares and leaving 140,060 shares valued at about $2.64 million at the end of the quarter.
• WillScot missed quarterly EPS ($0.29 vs. $0.33 estimate) despite beating revenue expectations ($565.97M vs. $545.34M), with revenue down 6.1% year-over-year and a negative net margin of 2.32%.
• The stock trades near $21.88 with a $3.96B market cap, high leverage (debt/equity 4.15), a $0.07 quarterly dividend (1.3% yield), and an average analyst rating of Hold with a $23.50 consensus target.

Comerica Bank lowered its position in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 35.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 140,060 shares of the company's stock after selling 75,662 shares during the period. Comerica Bank owned about 0.08% of WillScot worth $2,637,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Salomon & Ludwin LLC boosted its holdings in WillScot by 117.3% in the 4th quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company's stock worth $25,000 after buying an additional 679 shares during the period. CWM LLC boosted its holdings in WillScot by 37.7% in the 4th quarter. CWM LLC now owns 2,071 shares of the company's stock worth $39,000 after buying an additional 567 shares during the period. Danske Bank A S bought a new position in WillScot in the 3rd quarter worth $44,000. CIBC Private Wealth Group LLC boosted its holdings in WillScot by 130.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,766 shares of the company's stock worth $58,000 after buying an additional 1,565 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in WillScot by 22.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,911 shares of the company's stock worth $61,000 after buying an additional 543 shares during the period. Institutional investors own 95.81% of the company's stock.

WillScot Stock Down 3.6%

Shares of WSC stock opened at $21.88 on Tuesday. The stock has a market cap of $3.96 billion, a P/E ratio of -72.93, a PEG ratio of 1.66 and a beta of 1.31. WillScot Holdings Corporation has a 52 week low of $14.91 and a 52 week high of $31.88. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 4.15. The company's fifty day simple moving average is $19.73 and its two-hundred day simple moving average is $20.16.

WillScot (NASDAQ:WSC - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $565.97 million during the quarter, compared to analysts' expectations of $545.34 million. WillScot had a positive return on equity of 20.42% and a negative net margin of 2.32%.The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. Analysts predict that WillScot Holdings Corporation will post 1.05 EPS for the current fiscal year.

WillScot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were paid a $0.07 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $0.28 annualized dividend and a yield of 1.3%. WillScot's payout ratio is presently -93.33%.

Analyst Ratings Changes

Several research analysts recently weighed in on WSC shares. Wall Street Zen downgraded shares of WillScot from a "hold" rating to a "sell" rating in a report on Monday, February 23rd. Citigroup dropped their target price on shares of WillScot from $26.00 to $23.00 and set a "buy" rating for the company in a report on Monday, March 9th. Morgan Stanley upped their target price on shares of WillScot from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, February 23rd. Oppenheimer boosted their price target on shares of WillScot from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Monday, February 23rd. Finally, UBS Group assumed coverage on shares of WillScot in a research note on Wednesday, April 8th. They issued a "neutral" rating and a $19.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $23.50.

WillScot Company Profile

WillScot NASDAQ: WSC is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.

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