Madison Asset Management LLC Reduces Stake in WillScot Holdings Corporation (NASDAQ:WSC)

Madison Asset Management LLC lowered its position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,528 shares of the company's stock after selling 18,091 shares during the period. Madison Asset Management LLC owned about 0.09% of WillScot worth $4,768,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank boosted its position in WillScot by 444.7% during the first quarter. Amalgamated Bank now owns 56,374 shares of the company's stock valued at $1,567,000 after purchasing an additional 46,024 shares in the last quarter. GAMMA Investing LLC boosted its holdings in WillScot by 273.2% in the first quarter. GAMMA Investing LLC now owns 933 shares of the company's stock worth $26,000 after acquiring an additional 683 shares in the last quarter. KBC Group NV boosted its holdings in WillScot by 16.7% in the first quarter. KBC Group NV now owns 9,166 shares of the company's stock worth $255,000 after acquiring an additional 1,312 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in WillScot in the first quarter worth about $1,148,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in WillScot in the first quarter worth about $10,987,000. Hedge funds and other institutional investors own 95.81% of the company's stock.

Insider Buying and Selling

In other WillScot news, CEO Bradley Lee Soultz bought 10,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $26.79 per share, for a total transaction of $267,900.00. Following the transaction, the chief executive officer directly owned 128,817 shares of the company's stock, valued at approximately $3,451,007.43. This represents a 8.42% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dominick P. Zarcone bought 10,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were acquired at an average price of $26.19 per share, for a total transaction of $261,900.00. Following the transaction, the director directly owned 15,384 shares in the company, valued at approximately $402,906.96. This represents a 185.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company's stock.

WillScot Stock Performance

NASDAQ:WSC traded up $0.40 during trading hours on Thursday, reaching $31.25. The company had a trading volume of 1,785,837 shares, compared to its average volume of 1,597,458. WillScot Holdings Corporation has a 1-year low of $21.91 and a 1-year high of $43.80. The firm has a market cap of $5.70 billion, a PE ratio of 347.26, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. The business's 50 day moving average price is $28.30 and its 200-day moving average price is $30.06. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.83 and a quick ratio of 0.76.

WillScot (NASDAQ:WSC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). WillScot had a net margin of 0.63% and a return on equity of 26.28%. The company had revenue of $559.55 million during the quarter, compared to analyst estimates of $555.51 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The company's revenue was down 4.7% compared to the same quarter last year. Research analysts forecast that WillScot Holdings Corporation will post 1.77 EPS for the current year.

WillScot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.90%. WillScot's dividend payout ratio (DPR) is 311.11%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. William Blair reissued a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. Morgan Stanley lifted their target price on WillScot from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Barclays decreased their target price on WillScot from $40.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.63.

About WillScot

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.