Swedbank AB Cuts Stock Position in WillScot Holdings Corporation $WSC

Key Points

• Swedbank AB has reduced its stake in WillScot Holdings Corporation (NASDAQ: WSC) by 48.0%, owning approximately 586,000 shares after selling 539,948 shares in the second quarter.
• Insider transactions include EVP Hezron T. Lopez selling 22,000 shares while CEO Bradley Lee Soultz purchased 3,000 shares, indicating mixed insider sentiment.
• Analysts have adjusted WillScot's price targets, with DA Davidson lowering it from $45.00 to $40.00, reflecting a cautious outlook on the company's performance.

Swedbank AB lowered its holdings in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 48.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 586,000 shares of the company's stock after selling 539,948 shares during the period. Swedbank AB owned approximately 0.32% of WillScot worth $16,056,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank grew its position in WillScot by 444.7% during the first quarter. Amalgamated Bank now owns 56,374 shares of the company's stock worth $1,567,000 after buying an additional 46,024 shares in the last quarter. GAMMA Investing LLC raised its stake in WillScot by 273.2% in the first quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after purchasing an additional 683 shares in the last quarter. KBC Group NV lifted its position in WillScot by 16.7% during the first quarter. KBC Group NV now owns 9,166 shares of the company's stock worth $255,000 after purchasing an additional 1,312 shares during the period. New York State Teachers Retirement System acquired a new stake in WillScot during the first quarter worth about $1,148,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in WillScot during the first quarter worth about $10,987,000. 95.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in 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 research note on Friday, August 1st. Finally, Morgan Stanley cut their price objective on WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, WillScot presently has a consensus rating of "Hold" and an average price target of $36.00.

Insider Activity at WillScot

In other WillScot news, EVP Hezron T. Lopez sold 22,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total value of $541,860.00. Following the completion of the sale, the executive vice president directly owned 54,038 shares of the company's stock, valued at approximately $1,330,955.94. This represents a 28.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bradley Lee Soultz purchased 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average price of $25.35 per share, for a total transaction of $76,050.00. Following the completion of the acquisition, the chief executive officer directly owned 126,817 shares of the company's stock, valued at $3,214,810.95. This trade represents a 2.42% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is owned by insiders.

WillScot Stock Down 0.5%

NASDAQ WSC traded down $0.11 on Tuesday, hitting $22.09. 699,975 shares of the company were exchanged, compared to its average volume of 2,586,902. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.55. The company has a market cap of $4.02 billion, a PE ratio of 36.88, a PEG ratio of 2.01 and a beta of 1.14. The stock has a fifty day moving average of $25.66 and a 200-day moving average of $26.76. WillScot Holdings Corporation has a 12 month low of $21.91 and a 12 month high of $42.15.

WillScot (NASDAQ:WSC - Get Free Report) last issued its earnings results 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). The firm had revenue of $589.08 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $0.39 earnings per share. WillScot has set its FY 2025 guidance at EPS. As a group, analysts forecast that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. WillScot's payout ratio is presently 46.67%.

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.