Van Berkom & Associates Inc. Reduces Holdings in WillScot Holdings Corporation $WSC

Key Points

• Van Berkom & Associates cut its WillScot stake by 9.3% in the first quarter, selling 296,913 shares and leaving it with 2.88 million shares worth about $50 million.
• WillScot reported better-than-expected quarterly results, with EPS of $0.21 versus the $0.16 consensus and revenue of $548.63 million, though revenue was still down 2% year over year.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $26.25, while recent targets ranged from $19 to $30 and insiders have also been selling shares.

Van Berkom & Associates Inc. reduced its position in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,879,952 shares of the company's stock after selling 296,913 shares during the quarter. Van Berkom & Associates Inc. owned about 1.59% of WillScot worth $49,996,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance LLC raised its position in shares of WillScot by 3.5% in the fourth quarter. Xponance LLC now owns 14,245 shares of the company's stock valued at $268,000 after buying an additional 478 shares during the last quarter. CWM LLC lifted its stake in shares of WillScot by 37.7% in the fourth quarter. CWM LLC now owns 2,071 shares of the company's stock worth $39,000 after buying an additional 567 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in WillScot by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 41,604 shares of the company's stock worth $783,000 after acquiring an additional 600 shares during the last quarter. Salomon & Ludwin LLC boosted its position in WillScot by 117.3% during the fourth quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company's stock worth $25,000 after acquiring an additional 679 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in WillScot by 0.4% during the second quarter. CANADA LIFE ASSURANCE Co now owns 185,701 shares of the company's stock worth $5,092,000 after acquiring an additional 714 shares during the last quarter. Hedge funds and other institutional investors own 95.81% of the company's stock.

WillScot Price Performance

Shares of WSC stock opened at $27.23 on Monday. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.79 and a quick ratio of 0.72. The company has a market capitalization of $4.92 billion, a PE ratio of -71.66, a price-to-earnings-growth ratio of 1.62 and a beta of 1.32. The firm's 50-day moving average is $26.63 and its two-hundred day moving average is $22.66. WillScot Holdings Corporation has a 12 month low of $14.91 and a 12 month high of $31.88.

WillScot (NASDAQ:WSC - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, beating 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 business had revenue of $548.63 million during the quarter, compared to analysts' expectations of $518.17 million. During the same quarter in the prior year, the company posted $0.26 EPS. The business's revenue for the quarter was down 2.0% on a year-over-year basis. Analysts predict that WillScot Holdings Corporation will post 1.1 earnings per share for the current year.

WillScot Dividend Announcement

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

Analysts Set New Price Targets

WSC has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of WillScot from $23.00 to $29.00 and gave the company an "equal weight" rating in a report on Tuesday, May 12th. Robert W. Baird set a $26.00 target price on WillScot in a report on Friday, May 8th. Citigroup upped their price target on WillScot from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of WillScot in a report on Wednesday, May 20th. Finally, UBS Group began coverage on WillScot in a research note on Wednesday, April 8th. They set a "neutral" rating and a $19.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $26.25.

Insider Buying and Selling at WillScot

In related news, Director Bradley Lee Soultz sold 86,421 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $26.99, for a total transaction of $2,332,502.79. Following the completion of the sale, the director directly owned 197,595 shares of the company's stock, valued at approximately $5,333,089.05. This trade represents a 30.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 155,781 shares of company stock worth $4,205,113. Corporate insiders own 3.40% of the company's stock.

WillScot Company 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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