New York State Teachers Retirement System Invests $1.15 Million in WillScot Holdings Corporation (NASDAQ:WSC)

New York State Teachers Retirement System acquired a new stake in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 41,300 shares of the company's stock, valued at approximately $1,148,000.

Several other hedge funds have also recently modified their holdings of WSC. Norges Bank purchased a new position in shares of WillScot in the fourth quarter worth $97,734,000. Franklin Resources Inc. increased its position in WillScot by 34.4% during the fourth quarter. Franklin Resources Inc. now owns 10,314,494 shares of the company's stock valued at $345,020,000 after acquiring an additional 2,639,559 shares during the last quarter. Invesco Ltd. increased its position in WillScot by 747.1% during the fourth quarter. Invesco Ltd. now owns 1,820,316 shares of the company's stock valued at $60,890,000 after acquiring an additional 1,605,436 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in WillScot by 1,246.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,229,196 shares of the company's stock valued at $41,117,000 after acquiring an additional 1,137,890 shares during the last quarter. Finally, Capital International Investors increased its position in WillScot by 20.3% during the fourth quarter. Capital International Investors now owns 5,307,738 shares of the company's stock valued at $177,544,000 after acquiring an additional 897,184 shares during the last quarter. Hedge funds and other institutional investors own 95.81% of the company's stock.

WillScot Trading Down 0.9%

Shares of WillScot stock traded down $0.28 on Friday, reaching $30.40. The company had a trading volume of 1,425,011 shares, compared to its average volume of 2,677,069. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 337.82, a P/E/G ratio of 1.67 and a beta of 1.24. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.83 and a quick ratio of 0.76. The firm's 50-day moving average price is $27.94 and its two-hundred day moving average price is $30.25. WillScot Holdings Corporation has a 1 year low of $21.91 and a 1 year high of $43.80.

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

WillScot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid 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 0.92%. WillScot's dividend payout ratio is presently 311.11%.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

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.