Gabelli Funds LLC Takes Position in WillScot Holdings Corporation $WSC

Key Points

• Gabelli Funds LLC has acquired 20,450 shares of WillScot Holdings Corporation, valued at approximately $569,000, as reported in its recent SEC disclosure.
• During the first quarter, several institutional investors significantly increased their stakes in WillScot, with Corebridge Financial Inc. raising its holdings by 319.3%.
• WillScot announced a quarterly dividend of $0.07 per share, with a yield of 1.2%, set to be paid on September 17th to shareholders of record.

Gabelli Funds LLC bought a new stake in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,450 shares of the company's stock, valued at approximately $569,000.

Other large investors have also modified their holdings of the company. Northern Trust Corp grew its stake in WillScot by 9.2% during the 4th quarter. Northern Trust Corp now owns 1,146,903 shares of the company's stock valued at $38,364,000 after purchasing an additional 96,589 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in WillScot during the 4th quarter valued at approximately $282,000. Mercer Global Advisors Inc. ADV acquired a new stake in WillScot during the 4th quarter valued at approximately $222,000. Ananym Capital Management LP acquired a new stake in WillScot during the 4th quarter valued at approximately $12,744,000. Finally, Ameriprise Financial Inc. grew its stake in WillScot by 4.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,832,316 shares of the company's stock valued at $161,641,000 after purchasing an additional 223,462 shares in the last quarter. Institutional investors and hedge funds own 95.81% of the company's stock.

WillScot Stock Performance

Shares of NASDAQ WSC traded down $0.45 during mid-day trading on Tuesday, hitting $23.79. The company had a trading volume of 1,829,600 shares, compared to its average volume of 2,210,983. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 2.16 and a beta of 1.13. WillScot Holdings Corporation has a 12 month low of $21.91 and a 12 month high of $42.15. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.81 and a quick ratio of 0.74. The firm's 50 day simple moving average is $27.27 and its two-hundred day simple moving average is $27.86.

WillScot (NASDAQ:WSC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.09). The company had revenue of $589.08 million during 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 for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the business posted $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 earnings per share for the current year.

WillScot Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.28 annualized dividend and a yield of 1.2%. WillScot's payout ratio is presently 46.67%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at WillScot

In other WillScot news, CEO Bradley Lee Soultz bought 2,000 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were purchased at an average price of $24.85 per share, with a total value of $49,700.00. Following the purchase, the chief executive officer directly owned 418,376 shares of the company's stock, valued at approximately $10,396,643.60. The trade was a 0.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dominick P. Zarcone bought 10,000 shares of the business's stock in a transaction on 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 directly owned 15,384 shares in the company, valued at $402,906.96. This represents a 185.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 15,000 shares of company stock valued at $387,650 in the last quarter. Corporate insiders own 3.10% of the company's stock.

WillScot 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.