Douglas Lane & Associates LLC Increases Holdings in WillScot Holdings Corporation $WSC

Key Points

• Douglas Lane & Associates increased its WillScot stake by 5.4% in the third quarter, bringing its holdings to 1.81 million shares valued at approximately $31.1 million. Institutional investors collectively own 95.81% of the company.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and a consensus price target of $27.00. Citigroup raised its target to $30, while Barclays set its target at $26 with an equal-weight rating.
• WillScot beat quarterly earnings and revenue expectations, reporting $0.28 in adjusted EPS and $612.15 million in revenue, up 3.9% year over year. Shares recently traded at $16.79, while the company continues to pay a quarterly dividend of $0.07 per share.

Douglas Lane & Associates LLC boosted its stake in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,811,269 shares of the company's stock after acquiring an additional 92,065 shares during the quarter. Douglas Lane & Associates LLC owned 1.00% of WillScot worth $31,118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Wealth Partners LLC increased its holdings in WillScot by 620.5% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,758 shares of the company's stock valued at $30,000 after purchasing an additional 1,514 shares in the last quarter. Tidal Investments LLC boosted its stake in WillScot by 390.6% in the second quarter. Tidal Investments LLC now owns 129,595 shares of the company's stock worth $3,740,000 after purchasing an additional 103,178 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of WillScot during the second quarter worth $332,000. Nykredit A S bought a new stake in shares of WillScot during the second quarter worth $54,063,000. Finally, Corient Private Wealth LP increased its stake in shares of WillScot by 48.2% in the second quarter. Corient Private Wealth LP now owns 41,697 shares of the company's stock valued at $1,203,000 after buying an additional 13,552 shares in the last quarter. 95.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup upped their price target on shares of WillScot from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Weiss Ratings restated a "sell (d)" rating on shares of WillScot in a research report on Monday, August 17th. Finally, Barclays boosted their target price on shares of WillScot from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.00.

WillScot Trading Down 0.4%

Shares of WSC stock traded down $0.07 on Friday, reaching $16.79. 555,981 shares of the stock were exchanged, compared to its average volume of 2,398,760. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.81 and a quick ratio of 0.74. WillScot Holdings Corporation has a one year low of $14.91 and a one year high of $29.77. The stock has a market cap of $3.04 billion, a PE ratio of -44.11, a P/E/G ratio of 0.98 and a beta of 1.40. The stock has a 50 day moving average price of $20.42 and a 200 day moving average price of $22.88.

WillScot (NASDAQ:WSC - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. The firm had revenue of $612.15 million during the quarter, compared to analyst estimates of $585.43 million. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%.The company's revenue was up 3.9% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. Equities research analysts forecast that WillScot Holdings Corporation will post 1.13 EPS for the current fiscal year.

WillScot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, September 2nd. WillScot's payout ratio is -73.68%.

WillScot Profile

WillScot NASDAQ: WSC is a North American provider of flexible workspace and portable storage solutions. The company supplies modular buildings, mobile offices, classrooms, commercial space and storage units for customers in construction, education, healthcare, government, retail and other industries.

WillScot's services generally include the rental, sale, delivery, installation, relocation and servicing of modular buildings and portable storage products. Its offerings are designed to provide temporary, semi-permanent or expanded space for organizations managing construction projects, renovations, disaster recovery, workforce growth and other changing space requirements.

The company was formed through the combination of WillScot Corporation and Mobile Mini in 2020, bringing together modular workspace and portable storage operations.

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