Nykredit A S Makes New Investment in WillScot Holdings Corporation $WSC

Key Points

• Nykredit A/S acquired 1.87 million WillScot shares worth approximately $54.1 million, giving it a 1.03% stake. Institutional investors collectively own 95.81% of the company.
• WillScot reported quarterly EPS of $0.28, beating estimates of $0.25, while revenue rose 3.9% year over year to $612.15 million. Analysts maintain a consensus “Hold” rating with an average price target of $26.50.
• The stock opened at $18.17, well below its 50-day and 200-day moving averages of roughly $22.86 and $23.00, respectively. WillScot also pays a quarterly dividend of $0.07 per share, representing a 1.5% yield.

Nykredit A S acquired a new position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,873,281 shares of the company's stock, valued at approximately $54,063,000. Nykredit A S owned 1.03% of WillScot as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new position in shares of WillScot in the fourth quarter valued at $757,000. Hsbc Holdings PLC increased its position in shares of WillScot by 494.6% during the fourth quarter. Hsbc Holdings PLC now owns 56,917 shares of the company's stock worth $1,073,000 after acquiring an additional 47,344 shares in the last quarter. Turtle Creek Asset Management Inc. increased its position in shares of WillScot by 27.3% during the first quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company's stock worth $136,624,000 after acquiring an additional 1,686,077 shares in the last quarter. Mraz Amerine & Associates Inc. raised its holdings in shares of WillScot by 65.7% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 108,217 shares of the company's stock worth $2,038,000 after acquiring an additional 42,915 shares during the last quarter. Finally, Clearline Capital LP raised its holdings in shares of WillScot by 79.4% in the 4th quarter. Clearline Capital LP now owns 160,940 shares of the company's stock worth $3,030,000 after acquiring an additional 71,251 shares during the last quarter. Institutional investors own 95.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays increased their price objective on shares of WillScot from $24.00 to $26.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of WillScot in a report on Monday, August 17th. Finally, Citigroup increased their price target on WillScot from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, WillScot has a consensus rating of "Hold" and an average target price of $26.50.

WillScot Stock Performance

Shares of NASDAQ WSC opened at $18.17 on Friday. The stock's 50-day moving average is $22.86 and its 200 day moving average is $23.00. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -47.82, a P/E/G ratio of 1.07 and a beta of 1.31. WillScot Holdings Corporation has a 1-year low of $14.91 and a 1-year high of $29.77. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.80.

WillScot (NASDAQ:WSC - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%.The firm had revenue of $612.15 million during the quarter, compared to analyst estimates of $585.43 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business's quarterly revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that WillScot Holdings Corporation will post 1.12 EPS for the current fiscal year.

WillScot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, September 2nd. WillScot's dividend payout ratio (DPR) is currently -73.68%.

WillScot Company Profile

WillScot NASDAQ: WSC is a North American provider of flexible workspace and storage solutions. The company serves construction, commercial, education, healthcare, government and other organizations that need temporary, relocatable or expandable facilities.

Its offerings include mobile offices, modular buildings, classrooms, portable restrooms, storage containers and other portable structures. WillScot also provides related services such as delivery, installation, relocation, dismantling, site services, furnishings and facility accessories, allowing customers to deploy complete temporary or semi-permanent workspaces.

The company was formed through the 2020 combination of WillScot Corporation and Mobile Mini, bringing together modular workspace and portable storage operations.

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