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

Key Points

• Vanguard Group trimmed its Q4 stake in WillScot by 0.6%, selling 111,834 shares and remaining the largest holder with 17,742,337 shares (about 9.75% of the company) worth roughly $334.1 million.
• WillScot beat the latest quarter's expectations with EPS of $0.21 vs. $0.16 and revenue of $548.6 million vs. $518.2 million, although revenue was down 2% year-over-year and the company still shows a negative net margin.
• Analysts' consensus is a Hold (3 Buy / 7 Hold / 1 Sell) with an average price target of $23.50; shares trade near $23.30 and the company declared a $0.07 quarterly dividend (annualized $0.28, ~1.2% yield).

Vanguard Group Inc. lessened its holdings in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,742,337 shares of the company's stock after selling 111,834 shares during the period. Vanguard Group Inc. owned about 9.75% of WillScot worth $334,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Copeland Capital Management LLC increased its stake in WillScot by 7.6% during the 4th quarter. Copeland Capital Management LLC now owns 1,377,098 shares of the company's stock worth $25,931,000 after buying an additional 97,162 shares in the last quarter. M&T Bank Corp purchased a new stake in WillScot during the 4th quarter worth approximately $567,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in WillScot by 108.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 36,442 shares of the company's stock worth $689,000 after buying an additional 18,938 shares in the last quarter. Salomon & Ludwin LLC increased its stake in WillScot by 117.3% during the 4th quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company's stock worth $25,000 after buying an additional 679 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in WillScot by 45.7% during the 4th quarter. Evergreen Capital Management LLC now owns 18,659 shares of the company's stock worth $351,000 after buying an additional 5,854 shares in the last quarter. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WSC has been the subject of several research reports. Citigroup cut their price objective on WillScot from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Monday, March 9th. Oppenheimer boosted their price objective on WillScot from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Monday, February 23rd. UBS Group initiated coverage on WillScot in a research note on Wednesday, April 8th. They set a "neutral" rating and a $19.00 price objective for the company. William Blair reiterated a "market perform" rating on shares of WillScot in a research note on Thursday, March 5th. Finally, DA Davidson lowered their target price on WillScot from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, February 24th. Three investment 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.com, the stock has an average rating of "Hold" and an average price target of $23.50.

WillScot Trading Down 0.4%

Shares of WillScot stock opened at $23.30 on Friday. The stock has a market cap of $4.21 billion, a P/E ratio of -77.67, a P/E/G ratio of 1.72 and a beta of 1.31. The stock's 50 day simple moving average is $19.74 and its 200-day simple moving average is $20.19. WillScot Holdings Corporation has a 1-year low of $14.91 and a 1-year high of $31.88. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.78.

WillScot (NASDAQ:WSC - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. WillScot had a positive return on equity of 20.42% and a negative net margin of 2.32%.The business had revenue of $548.63 million for the quarter, compared to analysts' expectations of $518.17 million. During the same period in the previous year, the firm posted $0.26 EPS. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts predict that WillScot Holdings Corporation will post 1.05 EPS for the current fiscal year.

WillScot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a $0.07 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. WillScot's dividend payout ratio is currently -93.33%.

WillScot 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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