Primecap Management Co. CA Increases Stock Position in WillScot Holdings Corporation (NASDAQ:WSC)

Key Points

• Primecap Management Co. CA increased its holdings in WillScot Holdings by 16.4%, acquiring an additional 143,300 shares during the first quarter, totaling 1,016,800 shares valued at approximately $28.27 million.
• Shares of WillScot stock opened at $24.53 and have a 52-week range between $21.91 and $42.15, with a current market cap of $4.47 billion.
• WillScot announced a quarterly dividend of $0.07 per share, reflecting an annualized dividend yield of 1.1%, with the dividend payout ratio currently at 46.67%.

Primecap Management Co. CA grew its position in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,016,800 shares of the company's stock after buying an additional 143,300 shares during the period. Primecap Management Co. CA owned 0.55% of WillScot worth $28,267,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WSC. Russell Investments Group Ltd. boosted its position in shares of WillScot by 12.4% during the 4th quarter. Russell Investments Group Ltd. now owns 99,442 shares of the company's stock worth $3,326,000 after purchasing an additional 10,945 shares during the period. FMR LLC boosted its position in shares of WillScot by 12.0% during the 4th quarter. FMR LLC now owns 5,554,101 shares of the company's stock worth $185,785,000 after purchasing an additional 595,063 shares during the period. Invesco Ltd. boosted its position in shares of WillScot by 747.1% during the 4th quarter. Invesco Ltd. now owns 1,820,316 shares of the company's stock worth $60,890,000 after purchasing an additional 1,605,436 shares during the period. Raymond James Financial Inc. purchased a new position in shares of WillScot during the 4th quarter worth approximately $8,294,000. Finally, Jaffetilchin Investment Partners LLC purchased a new position in shares of WillScot during the 4th quarter worth approximately $918,000. Hedge funds and other institutional investors own 95.81% of the company's stock.

Insider Buying and Selling at WillScot

In other news, Director Dominick P. Zarcone acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was acquired at an average cost of $26.19 per share, with a total value of $261,900.00. Following the transaction, the director owned 15,384 shares in the company, valued at approximately $402,906.96. This trade represents a 185.74% increase in their ownership of the stock. The transaction 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 dated Tuesday, August 5th. The shares were purchased at an average cost of $24.85 per share, with a total value of $49,700.00. Following the completion of the transaction, the chief executive officer owned 418,376 shares in the company, valued at approximately $10,396,643.60. The trade was a 0.48% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 15,000 shares of company stock valued at $387,650. Corporate insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. DA Davidson lowered their price objective on shares of WillScot from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, August 1st. William Blair reaffirmed a "market perform" rating on shares of WillScot in a research report on Thursday, May 29th. Finally, Morgan Stanley decreased 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. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $36.00.

WillScot Stock Down 1.6%

WSC stock traded down $0.40 during midday trading on Monday, hitting $23.95. The company's stock had a trading volume of 451,990 shares, compared to its average volume of 2,671,956. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.55. WillScot Holdings Corporation has a 52-week low of $21.91 and a 52-week high of $42.15. The firm has a market capitalization of $4.36 billion, a P/E ratio of 39.90, a PEG ratio of 2.17 and a beta of 1.20. The firm has a 50-day simple moving average of $28.23 and a 200-day simple moving average of $29.32.

WillScot (NASDAQ:WSC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.09). The firm had revenue of $589.08 million for the quarter, compared to analysts' expectations of $587.07 million. WillScot had a return on equity of 24.83% and a net margin of 4.66%. WillScot's revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. As a group, equities analysts forecast that WillScot Holdings Corporation will post 1.77 EPS for the current year.

WillScot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. WillScot's payout ratio is 46.67%.

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.