Tidal Investments LLC Increases Position in WillScot Holdings Corporation $WSC

Key Points

• Tidal Investments increased its WillScot position by 390.6% in the second quarter, owning 129,595 shares valued at approximately $3.74 million. Institutional investors collectively hold 95.81% of the company.
• WillScot exceeded quarterly expectations, reporting adjusted earnings of $0.28 per share versus the $0.25 consensus and revenue of $612.15 million, up 3.9% year over year.
• The company declared a quarterly dividend of $0.07 per share, equal to an annualized $0.28 payout and a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $26.50.

Tidal Investments LLC lifted its position in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 390.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,595 shares of the company's stock after acquiring an additional 103,178 shares during the period. Tidal Investments LLC owned 0.07% of WillScot worth $3,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in WillScot by 2,664.5% during the 2nd quarter. California State Teachers Retirement System now owns 5,878,349 shares of the company's stock valued at $169,649,000 after purchasing an additional 5,665,711 shares during the last quarter. Turtle Creek Asset Management Inc. raised its stake in shares of WillScot by 27.3% in the first quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company's stock worth $136,624,000 after purchasing an additional 1,686,077 shares during the last quarter. Capital International Investors raised its stake in shares of WillScot by 10.8% in the fourth quarter. Capital International Investors now owns 5,489,528 shares of the company's stock worth $103,368,000 after purchasing an additional 536,511 shares during the last quarter. Nykredit A S acquired a new stake in shares of WillScot during the second quarter worth about $75,934,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of WillScot by 10.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,110,002 shares of the company's stock worth $71,339,000 after purchasing an additional 404,469 shares during the period. Hedge funds and other institutional investors own 95.81% of the company's stock.

WillScot Stock Performance

Shares of WSC stock opened at $18.48 on Tuesday. WillScot Holdings Corporation has a 52-week low of $14.91 and a 52-week high of $29.77. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.80. The stock has a market cap of $3.35 billion, a PE ratio of -48.63, a price-to-earnings-growth ratio of 1.08 and a beta of 1.31. The business has a 50-day simple moving average of $23.46 and a 200-day simple moving average of $23.12.

WillScot (NASDAQ:WSC - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $612.15 million for the quarter, compared to analyst estimates of $585.43 million. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%.WillScot's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. On average, equities analysts expect that WillScot Holdings Corporation will post 1.13 EPS for the current year.

WillScot Dividend Announcement

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 of this dividend is Wednesday, September 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. WillScot's dividend payout ratio (DPR) is presently -73.68%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WSC shares. Barclays increased their price target on shares of WillScot from $24.00 to $26.00 and gave the stock an "equal weight" rating in a report on Monday, August 10th. Citigroup lifted their price objective on shares of WillScot from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of WillScot in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $26.50.

WillScot Profile

WillScot NASDAQ: WSC is a North American provider of flexible workspace and storage solutions. The company serves construction, commercial, education, healthcare, government and other organizations that need temporary, relocatable or expandable facilities.

Its offerings include mobile offices, modular buildings, classrooms, portable restrooms, storage containers and other portable structures. WillScot also provides related services such as delivery, installation, relocation, dismantling, site services, furnishings and facility accessories, allowing customers to deploy complete temporary or semi-permanent workspaces.

The company was formed through the 2020 combination of WillScot Corporation and Mobile Mini, bringing together modular workspace and portable storage operations.

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