T. Rowe Price Investment Management Inc. Has $32.93 Million Stake in WillScot Holdings Corporation $WSC

Key Points

• T. Rowe Price Investment Management Inc. reduced its ownership in WillScot Holdings by 39.4%, selling 769,933 shares to end the first quarter with approximately 1.18 million shares valued at $32.93 million.
• WillScot reported earnings per share (EPS) of $0.27 for the latest quarter, which fell short of analysts' expectations of $0.36, alongside a 2.6% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.07 per share, effective September 17th, representing an annualized yield of 1.1% with a dividend payout ratio of 46.67%.

T. Rowe Price Investment Management Inc. lowered its position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 39.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,184,605 shares of the company's stock after selling 769,933 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.65% of WillScot worth $32,933,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of WillScot by 28.0% during the 1st quarter. Fifth Third Bancorp now owns 2,358 shares of the company's stock worth $66,000 after purchasing an additional 516 shares in the last quarter. Xponance Inc. increased its position in WillScot by 4.2% in the 1st quarter. Xponance Inc. now owns 14,101 shares of the company's stock valued at $392,000 after acquiring an additional 568 shares in the last quarter. Avantax Advisory Services Inc. increased its position in WillScot by 8.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,533 shares of the company's stock valued at $209,000 after acquiring an additional 583 shares in the last quarter. GAMMA Investing LLC increased its position in WillScot by 273.2% in the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after acquiring an additional 683 shares in the last quarter. Finally, CWM LLC increased its position in WillScot by 89.9% in the 1st quarter. CWM LLC now owns 1,747 shares of the company's stock valued at $49,000 after acquiring an additional 827 shares in the last quarter. Institutional investors and hedge funds own 95.81% of the company's stock.

Insider Buying and Selling

In other WillScot news, EVP Hezron T. Lopez sold 22,000 shares of WillScot stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total transaction of $541,860.00. Following the completion of the transaction, the executive vice president directly owned 54,038 shares of the company's stock, valued at $1,330,955.94. The trade was a 28.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bradley Lee Soultz acquired 3,000 shares of WillScot stock in a transaction on Tuesday, August 5th. The shares were bought at an average cost of $25.35 per share, with a total value of $76,050.00. Following the completion of the transaction, the chief executive officer owned 126,817 shares of the company's stock, valued at approximately $3,214,810.95. This trade represents a 2.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 15,000 shares of company stock worth $387,650. Insiders own 3.10% of the company's stock.

WillScot Stock Down 0.2%

Shares of NASDAQ WSC traded down $0.06 during midday trading on Friday, reaching $24.50. The company's stock had a trading volume of 228,805 shares, compared to its average volume of 2,635,904. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.55. WillScot Holdings Corporation has a fifty-two week low of $21.91 and a fifty-two week high of $42.15. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 2.22 and a beta of 1.20. The stock has a 50 day simple moving average of $27.44 and a 200-day simple moving average of $28.21.

WillScot (NASDAQ:WSC - Get Free Report) last posted 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). The business had revenue of $589.08 million during the quarter, compared to analyst estimates of $587.07 million. WillScot had a net margin of 4.66% and a return on equity of 24.83%. WillScot's revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share. WillScot has set its FY 2025 guidance at EPS. Equities research analysts predict that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, September 3rd. WillScot's payout ratio is presently 46.67%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WSC. Morgan Stanley lowered their price objective on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. William Blair reaffirmed a "market perform" rating on shares of WillScot in a research note on Thursday, May 29th. Finally, DA Davidson reduced their target price on shares of WillScot from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $36.00.

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.