WillScot Holdings Corporation $WSC Shares Sold by Swedbank AB

Key Points

• Swedbank AB reduced its stake in WillScot Holdings Corporation by 66.1%, holding approximately $31.30 million worth of shares after selling over 2.2 million shares during the first quarter.
• During the same period, several other institutional investors, including GAMMA Investing LLC and Golden State Wealth Management LLC, significantly increased their positions in WillScot.
• WillScot recently announced a quarterly dividend of $0.07, which translates to an annual yield of 1.2%, alongside a slight decline in quarterly earnings that failed to meet analyst expectations.

Swedbank AB cut its holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 66.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,125,948 shares of the company's stock after selling 2,198,052 shares during the period. Swedbank AB owned 0.62% of WillScot worth $31,301,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WSC. Fifth Third Bancorp grew its holdings in shares of 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 during the last quarter. Xponance Inc. grew its holdings in shares of WillScot by 4.2% during the first quarter. Xponance Inc. now owns 14,101 shares of the company's stock valued at $392,000 after buying an additional 568 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of WillScot by 8.4% during the first quarter. Avantax Advisory Services Inc. now owns 7,533 shares of the company's stock valued at $209,000 after buying an additional 583 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 during the last quarter. Finally, CWM LLC grew its holdings in shares of 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 during the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Hezron T. Lopez sold 22,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total transaction of $541,860.00. Following the sale, the executive vice president directly owned 54,038 shares of the company's stock, valued at $1,330,955.94. This represents a 28.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bradley Lee Soultz bought 2,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average cost of $24.85 per share, for a total transaction of $49,700.00. Following the completion of the purchase, the chief executive officer owned 418,376 shares in the company, valued at approximately $10,396,643.60. This represents a 0.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.10% of the company's stock.

WillScot Price Performance

Shares of WSC stock traded up $0.56 during mid-day trading on Thursday, hitting $23.17. 331,019 shares of the stock were exchanged, compared to its average volume of 2,593,943. The firm has a fifty day moving average of $26.13 and a 200 day moving average of $26.96. 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 company has a market cap of $4.22 billion, a PE ratio of 38.67, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13.

WillScot (NASDAQ:WSC - Get Free Report) last posted its earnings results 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). WillScot had a return on equity of 24.83% and a net margin of 4.66%.The firm had revenue of $589.08 million for the quarter, compared to analysts' expectations of $587.07 million. During the same period in the previous year, the company earned $0.39 earnings per share. The company's revenue was down 2.6% compared to the same quarter last year. WillScot has set its FY 2025 guidance at EPS. Research analysts anticipate that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid 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 was Wednesday, September 3rd. WillScot's dividend payout ratio is presently 46.67%.

Analyst Upgrades and Downgrades

WSC has been the topic of several recent research reports. DA Davidson lowered their price target on shares of WillScot from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Morgan Stanley lowered their price target on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, William Blair reaffirmed a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $36.00.

About WillScot

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.