Riverbridge Partners LLC Has $11.62 Million Stock Position in WillScot Holdings Corporation $WSC

Key Points

• Riverbridge Partners reduced its stake in WillScot by 6.6% in the first quarter, selling 47,080 shares and ending with 669,142 shares worth about $11.62 million.
• WillScot reported better-than-expected quarterly results, posting EPS of $0.21 versus the $0.16 consensus and revenue of $548.63 million, though revenue still declined 2.0% year over year.
• Insiders and analysts remain mixed on the stock: a director sold shares recently, while Wall Street’s consensus rating is “Hold” with a price target of $25.88, even as the stock traded above that level at $27.85.

Riverbridge Partners LLC cut its position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,142 shares of the company's stock after selling 47,080 shares during the period. Riverbridge Partners LLC owned 0.37% of WillScot worth $11,616,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in WSC. Jefferies Financial Group Inc. acquired a new stake in WillScot in the fourth quarter valued at approximately $757,000. Assenagon Asset Management S.A. bought a new stake in WillScot in the fourth quarter worth approximately $13,862,000. Van Berkom & Associates Inc. increased its stake in shares of WillScot by 4.0% during the 4th quarter. Van Berkom & Associates Inc. now owns 3,176,865 shares of the company's stock worth $59,820,000 after purchasing an additional 122,229 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of WillScot by 4,964.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,631,072 shares of the company's stock worth $34,432,000 after purchasing an additional 1,598,863 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. raised its holdings in shares of WillScot by 65.7% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 108,217 shares of the company's stock valued at $2,038,000 after purchasing an additional 42,915 shares in the last quarter. 95.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at WillScot

In other WillScot news, Director Bradley Lee Soultz sold 4,317 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $25.92, for a total value of $111,896.64. Following the sale, the director owned 414,059 shares of the company's stock, valued at $10,732,409.28. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 155,781 shares of company stock valued at $4,205,113. Company insiders own 3.10% of the company's stock.

WillScot Price Performance

NASDAQ WSC opened at $27.85 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 4.00. The company has a fifty day simple moving average of $24.74 and a 200 day simple moving average of $21.74. The company has a market cap of $5.04 billion, a P/E ratio of -73.29, a P/E/G ratio of 1.73 and a beta of 1.34. WillScot Holdings Corporation has a 1 year low of $14.91 and a 1 year high of $31.88.

WillScot (NASDAQ:WSC - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. WillScot had a negative net margin of 2.99% and a positive return on equity of 20.65%. The firm had revenue of $548.63 million for the quarter, compared to the consensus estimate of $518.17 million. During the same quarter last year, the firm posted $0.26 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts predict that WillScot Holdings Corporation will post 1.1 EPS for the current year.

WillScot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 1.0%. WillScot's dividend payout ratio is presently -73.68%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WSC shares. Wall Street Zen raised shares of WillScot from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. William Blair restated a "market perform" rating on shares of WillScot in a report on Thursday, March 5th. UBS Group initiated coverage on WillScot in a research report on Wednesday, April 8th. They issued a "neutral" rating and a $19.00 price target for the company. Citigroup upped their price target on WillScot from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Finally, DA Davidson lowered their price objective on WillScot from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $25.88.

WillScot Profile

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.

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