Vanguard Group Inc. Raises Position in WillScot Holdings Corporation $WSC

Key Points

• Vanguard Group Inc. has increased its stake in WillScot Holdings Corporation by 11.7%, owning approximately 9.99% of the company valued at $509.8 million.
• WillScot's recent quarterly earnings report showed an EPS of $0.27, missing analyst estimates, with revenue experiencing a 2.6% decline year-over-year.
• The company announced a quarterly dividend of $0.07 per share, representing an annualized yield of 1.2% with a payout ratio of 46.67%.

Vanguard Group Inc. boosted its position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 11.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,338,511 shares of the company's stock after buying an additional 1,924,653 shares during the quarter. Vanguard Group Inc. owned 9.99% of WillScot worth $509,811,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in WillScot by 273.2% in the first quarter. GAMMA Investing LLC now owns 933 shares of the company's stock worth $26,000 after purchasing an additional 683 shares during the last quarter. State of Wyoming acquired a new position in WillScot in the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC grew its position in WillScot by 428.2% during the first quarter. Golden State Wealth Management LLC now owns 1,384 shares of the company's stock valued at $38,000 after buying an additional 1,122 shares during the period. CWM LLC grew its holdings in WillScot by 89.9% in the first quarter. CWM LLC now owns 1,747 shares of the company's stock valued at $49,000 after purchasing an additional 827 shares during the period. Finally, Fifth Third Bancorp raised its position in WillScot by 28.0% during the first quarter. Fifth Third Bancorp now owns 2,358 shares of the company's stock worth $66,000 after acquiring an additional 516 shares during the period. Institutional investors own 95.81% of the company's stock.

Insider Transactions at WillScot

In other WillScot news, CEO Bradley Lee Soultz purchased 2,000 shares of WillScot stock in a transaction on Tuesday, August 5th. The shares were bought at an average price of $24.85 per share, with a total value of $49,700.00. Following the completion of the acquisition, the chief executive officer directly owned 418,376 shares of the company's stock, valued at approximately $10,396,643.60. This trade represents a 0.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dominick P. Zarcone purchased 10,000 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were bought at an average cost of $26.19 per share, with a total value of $261,900.00. Following the transaction, the director directly owned 15,384 shares of the company's stock, valued at $402,906.96. This represents a 185.74% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 15,000 shares of company stock worth $387,650. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WSC shares. DA Davidson reduced their price objective on WillScot from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. William Blair reissued a "market perform" rating on shares of WillScot in a research note on Thursday, May 29th. Finally, Morgan Stanley reduced their price target on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, WillScot currently has an average rating of "Hold" and an average target price of $36.00.

WillScot Stock Performance

WSC remained flat at $24.18 during trading on Monday. 998,468 shares of the company's stock traded hands, compared to its average volume of 2,673,639. WillScot Holdings Corporation has a 12 month low of $21.91 and a 12 month high of $42.15. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.55. The business has a fifty day moving average of $27.93 and a 200-day moving average of $28.86. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 40.30, a P/E/G ratio of 2.16 and a beta of 1.20.

WillScot (NASDAQ:WSC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.09). WillScot had a net margin of 4.66% and a return on equity of 24.83%. The business had revenue of $589.08 million during the quarter, compared to analyst estimates of $587.07 million. During the same period last year, the business posted $0.39 EPS. WillScot's revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts expect that WillScot Holdings Corporation will post 1.77 earnings per share for the current fiscal year.

WillScot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. WillScot's dividend payout ratio is presently 46.67%.

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.