Public Sector Pension Investment Board Invests $16.29 Million in WillScot Holdings Corporation (NASDAQ:WSC)

Key Points

• The Public Sector Pension Investment Board acquired 585,962 shares of WillScot Holdings Corporation, valued at approximately $16.29 million, increasing its ownership to about 0.32% of the company.
• Analysts have provided mixed ratings for WillScot, with a consensus target price of $36.00, while the company recently reported earnings per share of $0.27, missing estimates.
• WillScot announced a quarterly dividend of $0.07 per share, which equates to an annualized dividend yield of 1.2%.

Public Sector Pension Investment Board acquired a new stake in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 585,962 shares of the company's stock, valued at approximately $16,290,000. Public Sector Pension Investment Board owned approximately 0.32% of WillScot as of its most recent SEC filing.

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

WillScot Stock Performance

WSC stock traded down $0.47 on Friday, reaching $24.18. The company's stock had a trading volume of 1,662,316 shares, compared to its average volume of 2,718,552. WillScot Holdings Corporation has a 52 week low of $21.91 and a 52 week high of $42.15. The company has a market capitalization of $4.40 billion, a P/E ratio of 40.30, a price-to-earnings-growth ratio of 2.20 and a beta of 1.20. The firm has a fifty day moving average of $27.93 and a two-hundred day moving average of $28.97. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.81 and a quick ratio of 0.74.

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

WillScot Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on WSC shares. William Blair reaffirmed a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. DA Davidson lowered their target price on WillScot from $45.00 to $40.00 and set a "buy" rating for the company in a report on Friday, August 1st. Finally, Morgan Stanley lowered their target price on WillScot from $39.00 to $37.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $36.00.

Insiders Place Their Bets

In other news, Director Dominick P. Zarcone purchased 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 purchase, the director owned 15,384 shares in the company, valued at $402,906.96. This trade represents a 185.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bradley Lee Soultz purchased 3,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were purchased at an average cost of $25.35 per share, with a total value of $76,050.00. Following the completion of the purchase, the chief executive officer owned 126,817 shares in the company, valued at $3,214,810.95. This represents a 2.42% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 15,000 shares of company stock valued at $387,650. 3.10% of the stock is currently owned by corporate insiders.

WillScot 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.