HG Vora Capital Management LLC Purchases New Position in WillScot Holdings Corporation $WSC

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 stake in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,400,000 shares of the company's stock, valued at approximately $38,920,000. WillScot comprises approximately 4.0% of HG Vora Capital Management LLC's investment portfolio, making the stock its 10th largest position. HG Vora Capital Management LLC owned 0.76% of WillScot at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of WillScot by 11.7% in the first quarter. Vanguard Group Inc. now owns 18,338,511 shares of the company's stock valued at $509,811,000 after purchasing an additional 1,924,653 shares during the last quarter. Baillie Gifford & Co. acquired a new position in shares of WillScot in the first quarter valued at $145,392,000. Ameriprise Financial Inc. increased its holdings in shares of WillScot by 4.8% in the fourth 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 during the last quarter. Turtle Creek Asset Management Inc. increased its holdings in shares of WillScot by 23.9% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 3,594,848 shares of the company's stock valued at $120,248,000 after purchasing an additional 693,243 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of WillScot by 13.4% in the first quarter. Alliancebernstein L.P. now owns 2,875,109 shares of the company's stock valued at $79,928,000 after acquiring an additional 338,685 shares in the last quarter. 95.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

WillScot Price Performance

WSC traded down $0.51 on Monday, hitting $23.20. 2,226,414 shares of the stock were exchanged, compared to its average volume of 2,631,304. WillScot Holdings Corporation has a 12 month low of $21.91 and a 12 month high of $42.15. The business has a 50-day moving average of $27.01 and a two-hundred day moving average of $27.47. 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 has a market capitalization of $4.22 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 2.12 and a beta of 1.14.

WillScot (NASDAQ:WSC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.27 earnings per share 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 firm had revenue of $589.08 million for the quarter, compared to the consensus estimate of $587.07 million. During the same period in the prior year, the company earned $0.39 EPS. The company's revenue for the quarter was down 2.6% compared to the same quarter last year. WillScot has set its FY 2025 guidance at EPS. Sell-side analysts forecast that WillScot Holdings Corporation will post 1.77 EPS for the current fiscal year.

WillScot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors 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 annualized dividend and a yield of 1.2%. WillScot's dividend payout ratio is currently 46.67%.

Insider Buying and Selling

In other news, Director Dominick P. Zarcone acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was acquired at an average price of $26.19 per share, with a total value of $261,900.00. Following the completion of the transaction, the director directly owned 15,384 shares of the company's stock, valued at $402,906.96. This trade represents a 185.74% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hezron T. Lopez sold 22,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $24.63, for a total transaction of $541,860.00. Following the sale, the executive vice president directly owned 54,038 shares of the company's stock, valued at $1,330,955.94. This represents a 28.93% decrease in their position. The disclosure for this sale can be found here. Insiders bought 15,000 shares of company stock valued at $387,650 over the last quarter. 3.10% of the stock is owned by company insiders.

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.