Ranger Investment Management L.P. Takes $24.08 Million Position in WillScot Holdings Corporation $WSC

Key Points

• Ranger Investment Management acquired 834,433 shares of WillScot Holdings in the second quarter, valued at approximately $24.08 million. The position represents about 1.5% of Ranger’s portfolio and 0.46% of WillScot’s outstanding shares.
• WillScot reported quarterly earnings of $0.28 per share, exceeding estimates by $0.03, while revenue of $612.15 million surpassed forecasts and rose 3.9% year over year. Institutional investors own approximately 95.81% of the company.
• The company declared a quarterly dividend of $0.07 per share, equivalent to an annualized yield of about 1.3%. Analysts maintain a consensus “Hold” rating with an average price target of $26.50, compared with a recent share price of $22.14.

Ranger Investment Management L.P. acquired a new position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 834,433 shares of the company's stock, valued at approximately $24,082,000. WillScot comprises about 1.5% of Ranger Investment Management L.P.'s holdings, making the stock its 22nd largest position. Ranger Investment Management L.P. owned approximately 0.46% of WillScot as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Royal Bank of Canada grew its position in WillScot by 24.6% during the first quarter. Royal Bank of Canada now owns 33,684 shares of the company's stock valued at $936,000 after acquiring an additional 6,651 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of WillScot by 1.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 724,638 shares of the company's stock worth $20,145,000 after purchasing an additional 8,963 shares during the period. Creative Planning lifted its stake in shares of WillScot by 6.9% in the 2nd quarter. Creative Planning now owns 15,814 shares of the company's stock valued at $433,000 after purchasing an additional 1,024 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of WillScot by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 46,781 shares of the company's stock valued at $1,282,000 after purchasing an additional 1,374 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of WillScot by 48.8% in the 2nd quarter. Hsbc Holdings PLC now owns 11,676 shares of the company's stock valued at $320,000 after purchasing an additional 3,827 shares in the last quarter. 95.81% of the stock is owned by hedge funds and other institutional investors.

WillScot Price Performance

Shares of NASDAQ WSC opened at $22.14 on Monday. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.81 and a quick ratio of 0.74. WillScot Holdings Corporation has a 1-year low of $14.91 and a 1-year high of $29.77. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of -58.26, a PEG ratio of 1.30 and a beta of 1.33. The business has a 50-day moving average of $26.05 and a 200-day moving average of $23.31.

WillScot (NASDAQ:WSC - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $612.15 million for the quarter, compared to the consensus estimate of $585.43 million. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%.The company's revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS. On average, equities analysts anticipate that WillScot Holdings Corporation will post 1.12 EPS for the current fiscal year.

WillScot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. WillScot's dividend payout ratio (DPR) is currently -73.68%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of WillScot from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Robert W. Baird set a $26.00 price target on shares of WillScot in a research report on Friday, May 8th. Citigroup boosted their price objective on shares of WillScot from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Weiss Ratings reissued a "sell (d)" rating on shares of WillScot in a research report on Monday, August 17th. Finally, Morgan Stanley raised their target price on shares of WillScot from $23.00 to $29.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $26.50.

About WillScot

WillScot NASDAQ: WSC is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source