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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank raised its holdings in shares of WillScot by 444.7% in the first quarter. Amalgamated Bank now owns 56,374 shares of the company's stock valued at $1,567,000 after buying an additional 46,024 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of WillScot by 273.2% in the first quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after buying an additional 683 shares during the last quarter. KBC Group NV raised its holdings in shares of WillScot by 16.7% in the first quarter. KBC Group NV now owns 9,166 shares of the company's stock valued at $255,000 after buying an additional 1,312 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of WillScot in the first quarter valued at about $1,148,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of WillScot in the first quarter valued at about $10,987,000. 95.81% of the stock is owned by institutional investors.

Insider Transactions at WillScot

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

WillScot Trading Down 13.7%

WillScot stock traded down $4.02 during trading hours on Friday, reaching $25.33. 9,705,258 shares of the company's stock traded hands, compared to its average volume of 1,674,535. 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 capitalization of $4.62 billion, a price-to-earnings ratio of 42.22, a PEG ratio of 1.61 and a beta of 1.20. The firm's 50 day moving average is $28.53 and its 200-day moving average is $29.93. WillScot Holdings Corporation has a fifty-two week low of $21.91 and a fifty-two week high of $42.15.

WillScot (NASDAQ:WSC - Get Free Report) last announced its quarterly 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). The company had revenue of $589.08 million during the quarter, compared to the consensus estimate of $587.07 million. WillScot had a net margin of 4.66% and a return on equity of 24.87%. The business's revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. On average, analysts predict that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.1%. WillScot's dividend payout ratio is 311.11%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on WillScot from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Barclays dropped their price objective on WillScot from $40.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. William Blair restated a "market perform" rating on shares of WillScot in a research report on Thursday, May 29th. Finally, DA Davidson cut their target price on shares of WillScot from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, WillScot currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.75.

WillScot Company 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.