Victory Capital Management Inc. Purchases 10,384 Shares of WillScot Holdings Corporation (NASDAQ:WSC)

Key Points

• Victory Capital Management Inc. increased its stake in WillScot Holdings Corporation by 46.7%, acquiring a total of 32,603 shares valued at approximately $906,000.
• The company recently announced a quarterly dividend of $0.07, translating to an annual dividend yield of 1.0%, with a dividend payout ratio of 311.11%.
• WillScot's stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $40.63.

Victory Capital Management Inc. lifted its stake in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 46.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,603 shares of the company's stock after acquiring an additional 10,384 shares during the period. Victory Capital Management Inc.'s holdings in WillScot were worth $906,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. TimesSquare Capital Management LLC lifted its holdings in shares of WillScot by 5.0% during the first quarter. TimesSquare Capital Management LLC now owns 869,030 shares of the company's stock worth $24,159,000 after buying an additional 41,085 shares during the last quarter. CWM LLC increased its position in shares of WillScot by 89.9% during 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. Louisiana State Employees Retirement System bought a new stake in WillScot in the first quarter valued at $2,419,000. Mutual of America Capital Management LLC bought a new stake in WillScot in the first quarter valued at $748,000. Finally, Xponance Inc. grew its position in WillScot by 4.2% in the first quarter. Xponance Inc. now owns 14,101 shares of the company's stock valued at $392,000 after acquiring an additional 568 shares during the period. 95.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other WillScot news, Director Dominick P. Zarcone purchased 10,000 shares of the stock in a transaction on Tuesday, June 17th. The stock was bought at an average cost of $26.19 per share, for a total transaction of $261,900.00. Following the completion of the acquisition, the director directly owned 15,384 shares of the company's stock, valued at $402,906.96. The trade was a 185.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bradley Lee Soultz purchased 10,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $26.79 per share, with a total value of $267,900.00. Following the completion of the acquisition, the chief executive officer directly owned 128,817 shares of the company's stock, valued at approximately $3,451,007.43. This represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley boosted their price objective on WillScot from $38.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. William Blair reissued a "market perform" rating on shares of WillScot in a research note on Thursday, May 29th. Barclays reduced their price objective on WillScot from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. Finally, 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 note on Friday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, WillScot has an average rating of "Moderate Buy" and a consensus price target of $39.75.

WillScot Trading Down 13.7%

NASDAQ:WSC traded down $4.02 during mid-day trading on Friday, hitting $25.33. The company had a trading volume of 9,705,258 shares, compared to its average volume of 1,674,535. WillScot Holdings Corporation has a fifty-two week low of $21.91 and a fifty-two week high of $42.15. The business's fifty day moving average is $28.49 and its two-hundred day moving average is $29.87. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.76 and a current ratio of 0.83. The firm has a market cap of $4.62 billion, a P/E ratio of 42.22, a P/E/G ratio of 1.61 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 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). WillScot had a net margin of 4.66% and a return on equity of 24.87%. The company had revenue of $589.08 million during the quarter, compared to analyst estimates of $587.07 million. During the same period in the previous year, the company posted $0.39 EPS. The company's quarterly revenue was down 2.6% compared to the same quarter last year. As a group, research analysts expect that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.28 annualized dividend and a yield of 1.1%. WillScot's dividend payout ratio is presently 311.11%.

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.