1,400,000 Shares in WillScot Holdings Corporation $WSC Acquired by HG Vora Capital Management LLC

Key Points

• HG Vora Capital Management acquired 1,400,000 shares of WillScot Holdings Corp, valued at approximately $38.9 million, constituting 4.0% of its investment portfolio.
• WillScot reported a quarterly earnings miss with $0.27 EPS, below analyst expectations of $0.36, and a revenue decline of 2.6% year-over-year.
• The company declared a $0.07 quarterly dividend with a yield of 1.2%, to be paid on September 17th to stockholders of record.

HG Vora Capital Management LLC acquired a new position in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,400,000 shares of the company's stock, valued at approximately $38,920,000. WillScot accounts for approximately 4.0% of HG Vora Capital Management LLC's investment portfolio, making the stock its 10th biggest holding. HG Vora Capital Management LLC owned about 0.76% of WillScot at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSC. Vanguard Group Inc. increased its position in shares of WillScot by 11.7% during the first quarter. Vanguard Group Inc. now owns 18,338,511 shares of the company's stock valued at $509,811,000 after acquiring an additional 1,924,653 shares in the last quarter. Baillie Gifford & Co. purchased a new position in shares of WillScot during the 1st quarter worth $145,392,000. Ameriprise Financial Inc. boosted its stake in shares of WillScot by 4.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,832,316 shares of the company's stock worth $161,641,000 after acquiring an additional 223,462 shares during the last quarter. Turtle Creek Asset Management Inc. boosted its stake in shares of WillScot by 23.9% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 3,594,848 shares of the company's stock worth $120,248,000 after acquiring an additional 693,243 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of WillScot by 13.4% during the 1st quarter. Alliancebernstein L.P. now owns 2,875,109 shares of the company's stock valued at $79,928,000 after purchasing an additional 338,685 shares during the period. Hedge funds and other institutional investors own 95.81% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on WSC. Morgan Stanley decreased their price objective on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. DA Davidson reduced their target price on shares of 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 research note on Thursday, May 29th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, WillScot presently has a consensus rating of "Hold" and a consensus target price of $36.00.

WillScot Price Performance

Shares of WillScot stock traded down $0.47 during trading on Tuesday, reaching $22.74. The company's stock had a trading volume of 1,172,772 shares, compared to its average volume of 2,622,507. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.55. WillScot Holdings Corporation has a 12-month low of $21.91 and a 12-month high of $42.15. The company has a market capitalization of $4.14 billion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. The business has a 50 day moving average price of $26.92 and a 200-day moving average price of $27.39.

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

WillScot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.07 dividend. The ex-dividend date 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 currently 46.67%.

Insider Buying and Selling

In other news, CEO Bradley Lee Soultz purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average price of $24.85 per share, for a total transaction of $49,700.00. Following the acquisition, the chief executive officer directly owned 418,376 shares in the company, valued at approximately $10,396,643.60. The trade was a 0.48% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dominick P. Zarcone purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was purchased at an average price of $26.19 per share, for a total transaction of $261,900.00. Following the acquisition, the director owned 15,384 shares in the company, valued at approximately $402,906.96. This trade represents a 185.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 15,000 shares of company stock worth $387,650 in the last quarter. Company insiders own 3.10% of the company's stock.

WillScot Company 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.