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Maryland State Retirement & Pension System Purchases 51,716 Shares of WillScot Holdings Corporation (NASDAQ:WSC)

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Key Points

  • The Maryland State Retirement & Pension System significantly increased its stake in WillScot Holdings Corporation by 490.2%, acquiring an additional 51,716 shares for a total of 62,265 shares, valued at approximately $1.73 million.
  • In recent analyst ratings, WillScot has been assigned a consensus rating of "Hold", with a price target of $36.00, despite a recent drop in stock price by 1.3% to around $24.35.
  • WillScot announced a quarterly dividend of $0.07 per share to shareholders of record on September 3rd, representing an annualized yield of 1.1%.
  • Looking to Export and Analyze WillScot Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Maryland State Retirement & Pension System increased its position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 490.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,265 shares of the company's stock after acquiring an additional 51,716 shares during the period. Maryland State Retirement & Pension System's holdings in WillScot were worth $1,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSC. GAMMA Investing LLC grew its position in shares of WillScot by 273.2% in the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after buying an additional 683 shares during the last quarter. State of Wyoming acquired a new position in shares of WillScot in the 4th quarter valued at about $34,000. Golden State Wealth Management LLC lifted its stake in shares of WillScot by 428.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,384 shares of the company's stock valued at $38,000 after purchasing an additional 1,122 shares during the period. CWM LLC lifted its stake in shares of WillScot by 89.9% in the 1st quarter. CWM LLC now owns 1,747 shares of the company's stock valued at $49,000 after purchasing an additional 827 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of WillScot by 28.0% in the 1st quarter. Fifth Third Bancorp now owns 2,358 shares of the company's stock valued at $66,000 after purchasing an additional 516 shares during the period. Institutional investors own 95.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WSC shares. William Blair reissued a "market perform" rating on shares of WillScot in a research note on Thursday, May 29th. DA Davidson dropped their price objective on WillScot from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Finally, Morgan Stanley dropped their price objective on WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, WillScot currently has a consensus rating of "Hold" and a consensus price target of $36.00.

Get Our Latest Stock Report on WillScot

WillScot Stock Down 1.3%

WSC stock opened at $24.35 on Friday. 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's 50 day simple moving average is $28.23 and its 200 day simple moving average is $29.38. The company has a market cap of $4.44 billion, a P/E ratio of 40.58, a price-to-earnings-growth ratio of 2.17 and a beta of 1.20. WillScot Holdings Corporation has a fifty-two week low of $21.91 and a fifty-two week high of $42.15.

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 company had revenue of $589.08 million for 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 revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, research analysts expect that WillScot Holdings Corporation will post 1.77 earnings per share for the current fiscal year.

WillScot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 3rd. WillScot's payout ratio is currently 46.67%.

Insider Buying and Selling

In related news, Director Dominick P. Zarcone acquired 10,000 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was purchased at an average cost of $26.19 per share, with a total value of $261,900.00. Following the acquisition, the director owned 15,384 shares of the company's stock, valued at approximately $402,906.96. This trade represents a 185.74% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bradley Lee Soultz acquired 2,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were bought at an average cost of $24.85 per share, with a total value of $49,700.00. Following the completion of the acquisition, the chief executive officer directly owned 418,376 shares in the company, valued at approximately $10,396,643.60. This represents a 0.48% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,000 shares of company stock valued at $387,650 over the last three months. Corporate insiders own 3.10% of the company's stock.

About WillScot

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for WillScot (NASDAQ:WSC)

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.

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