Generate Investment Management Ltd Trims Stock Holdings in WillScot Holdings Corporation $WSC

Key Points

• Generate Investment Management Ltd significantly reduced its stake in WillScot Holdings Corporation by 86.9%, selling 698,484 shares to own only 105,159 shares at the end of Q2.
• Several institutional investors increased their stakes in WillScot during Q1, with notable increases including GAMMA Investing LLC by 10,274.8% and NBC Securities Inc. by 95,727.3%.
• WillScot's stock has seen price target reductions from analysts, with Barclays lowering its target from $34.00 to $22.00 while maintaining an "equal weight" rating.

Generate Investment Management Ltd cut its stake in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 86.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,159 shares of the company's stock after selling 698,484 shares during the period. Generate Investment Management Ltd owned 0.06% of WillScot worth $2,881,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. First Hawaiian Bank lifted its position in WillScot by 16.0% during the first quarter. First Hawaiian Bank now owns 23,522 shares of the company's stock valued at $654,000 after purchasing an additional 3,250 shares during the last quarter. GAMMA Investing LLC increased its stake in WillScot by 10,274.8% in the 1st quarter. GAMMA Investing LLC now owns 25,937 shares of the company's stock worth $721,000 after purchasing an additional 25,687 shares during the period. Rhumbline Advisers increased its stake in shares of WillScot by 125.0% in the first quarter. Rhumbline Advisers now owns 427,041 shares of the company's stock worth $11,872,000 after buying an additional 237,256 shares during the period. Douglas Lane & Associates LLC raised its stake in shares of WillScot by 15.0% during the first quarter. Douglas Lane & Associates LLC now owns 1,146,929 shares of the company's stock valued at $31,885,000 after acquiring an additional 149,236 shares during the last quarter. Finally, NBC Securities Inc. raised its position in WillScot by 95,727.3% during the 1st quarter. NBC Securities Inc. now owns 10,541 shares of the company's stock valued at $293,000 after purchasing an additional 10,530 shares during the last quarter. Institutional investors own 95.81% of the company's stock.

Insider Buying and Selling at WillScot

In other news, EVP Hezron T. Lopez sold 22,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total value of $541,860.00. Following the completion of the sale, the executive vice president owned 54,038 shares in the company, valued at approximately $1,330,955.94. This trade represents a 28.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bradley Lee Soultz purchased 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average cost of $25.35 per share, with a total value of $76,050.00. Following the completion of the purchase, the chief executive officer owned 126,817 shares in the company, valued at $3,214,810.95. This trade represents a 2.42% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays lowered their price objective on shares of WillScot from $34.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, September 24th. Morgan Stanley dropped their price objective on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, DA Davidson cut their price target on WillScot from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $34.00.

WillScot Stock Down 1.3%

Shares of NASDAQ WSC opened at $20.56 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.55. WillScot Holdings Corporation has a 12-month low of $20.52 and a 12-month high of $42.15. The firm's 50-day moving average price is $24.95 and its 200-day moving average price is $26.53. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 1.84 and a beta of 1.14.

WillScot (NASDAQ:WSC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.09). WillScot had a return on equity of 24.83% and a net margin of 4.66%.The company had revenue of $589.08 million during the quarter, compared to analysts' expectations of $587.07 million. During the same quarter in the prior year, the business posted $0.39 EPS. The company's revenue was down 2.6% on a year-over-year basis. WillScot has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that WillScot Holdings Corporation will post 1.77 EPS for the current fiscal year.

WillScot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were given a $0.07 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. WillScot's dividend payout ratio (DPR) is currently 46.67%.

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.

Want to see what other hedge funds are holding WSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WillScot Holdings Corporation (NASDAQ:WSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.