Edgestream Partners L.P. Makes New $1.79 Million Investment in WillScot Holdings Corporation $WSC

Key Points

• Edgestream Partners purchased 103,283 WillScot shares valued at approximately $1.79 million, representing about 0.06% of the company. Institutional investors collectively own 95.81% of WSC.
• Analysts maintain a consensus “Hold” rating with an average price target of $26.25, although targets range from $19 to $29.
• WillScot’s latest quarterly results exceeded expectations, with EPS of $0.21 versus $0.16 expected and revenue of $548.63 million; however, revenue declined 2% year over year and the company reported a negative net margin.

Edgestream Partners L.P. bought a new position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 103,283 shares of the company's stock, valued at approximately $1,793,000. Edgestream Partners L.P. owned approximately 0.06% of WillScot as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of WillScot by 24.6% in the first quarter. Royal Bank of Canada now owns 33,684 shares of the company's stock valued at $936,000 after acquiring an additional 6,651 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of WillScot by 1.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 724,638 shares of the company's stock valued at $20,145,000 after acquiring an additional 8,963 shares during the last quarter. Creative Planning lifted its holdings in WillScot by 6.9% during the second quarter. Creative Planning now owns 15,814 shares of the company's stock worth $433,000 after acquiring an additional 1,024 shares during the period. American Century Companies Inc. lifted its holdings in WillScot by 3.0% during the second quarter. American Century Companies Inc. now owns 46,781 shares of the company's stock worth $1,282,000 after acquiring an additional 1,374 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in WillScot by 48.8% during the second quarter. Hsbc Holdings PLC now owns 11,676 shares of the company's stock worth $320,000 after acquiring an additional 3,827 shares during the period. Hedge funds and other institutional investors own 95.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WSC. Barclays boosted their price objective on WillScot from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Friday, May 15th. Morgan Stanley lifted their target price on WillScot from $23.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 12th. Oppenheimer reiterated an "outperform" rating and set a $29.00 target price on shares of WillScot in a research note on Friday, May 8th. Robert W. Baird set a $26.00 price target on shares of WillScot in a report on Friday, May 8th. Finally, UBS Group assumed coverage on shares of WillScot in a research report on Wednesday, April 8th. They set a "neutral" rating and a $19.00 price target for the company. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $26.25.

Insider Activity

In related news, Director Bradley Lee Soultz sold 4,317 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $25.92, for a total transaction of $111,896.64. Following the sale, the director owned 414,059 shares of the company's stock, valued at approximately $10,732,409.28. This represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 155,781 shares of company stock worth $4,205,113. Insiders own 3.40% of the company's stock.

WillScot Stock Up 5.9%

WSC opened at $25.72 on Tuesday. WillScot Holdings Corporation has a 12 month low of $14.91 and a 12 month high of $29.77. The company has a market cap of $4.65 billion, a PE ratio of -67.68, a price-to-earnings-growth ratio of 1.44 and a beta of 1.33. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 4.00. The company has a 50 day moving average of $26.80 and a 200 day moving average of $23.07.

WillScot (NASDAQ:WSC - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.05. WillScot had a negative net margin of 2.99% and a positive return on equity of 20.65%. The business had revenue of $548.63 million for the quarter, compared to analysts' expectations of $518.17 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that WillScot Holdings Corporation will post 1.1 EPS for the current year.

WillScot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, June 3rd. WillScot's payout ratio is presently -73.68%.

WillScot 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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