Gabelli Funds LLC Buys New Shares 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 purchased a new stake in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 20,450 shares of the company's stock, valued at approximately $569,000.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of WillScot by 273.2% in the first quarter. GAMMA Investing LLC now owns 933 shares of the company's stock worth $26,000 after purchasing an additional 683 shares during the last quarter. State of Wyoming purchased a new position in WillScot in the fourth quarter worth about $34,000. Golden State Wealth Management LLC boosted its position in shares of WillScot by 428.2% during the first quarter. Golden State Wealth Management LLC now owns 1,384 shares of the company's stock valued at $38,000 after buying an additional 1,122 shares during the period. CWM LLC boosted its position in shares of WillScot by 89.9% during the first quarter. CWM LLC now owns 1,747 shares of the company's stock valued at $49,000 after buying an additional 827 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of WillScot by 28.0% during the first quarter. Fifth Third Bancorp now owns 2,358 shares of the company's stock valued at $66,000 after buying an additional 516 shares during the period. 95.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

WillScot Stock Up 1.0%

NASDAQ:WSC traded up $0.23 during trading hours on Friday, reaching $23.85. The company's stock had a trading volume of 486,423 shares, compared to its average volume of 2,625,737. The company has a market capitalization of $4.34 billion, a P/E ratio of 39.71, a price-to-earnings-growth ratio of 2.09 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 quick ratio of 0.74 and a current ratio of 0.81. The stock has a 50 day moving average price of $27.10 and a two-hundred day moving average price of $27.73.

WillScot (NASDAQ:WSC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.09). The business 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 business's quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. WillScot has set its FY 2025 guidance at EPS. Equities analysts predict that WillScot Holdings Corporation will post 1.77 EPS for the current fiscal year.

WillScot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. WillScot's dividend payout ratio is presently 46.67%.

Insider Transactions at WillScot

In other WillScot news, Director Dominick P. Zarcone purchased 10,000 shares of WillScot stock in a transaction dated Tuesday, June 17th. The shares were acquired at an average cost of $26.19 per share, with a total value of $261,900.00. Following the completion of the transaction, the director owned 15,384 shares in the company, valued at approximately $402,906.96. This trade represents a 185.74% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Bradley Lee Soultz purchased 3,000 shares of WillScot stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average cost of $25.35 per share, for a total transaction of $76,050.00. Following the completion of the transaction, the chief executive officer owned 126,817 shares of the company's stock, valued at approximately $3,214,810.95. This represents a 2.42% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 15,000 shares of company stock valued at $387,650. 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.