Natixis Advisors LLC Cuts Holdings in WillScot Holdings Corporation (NASDAQ:WSC)

Key Points

• Natixis Advisors LLC has reduced its stake in WillScot Holdings Corporation by 12.1%, selling 24,525 shares and holding 177,337 shares worth approximately $4.93 million at the end of the first quarter.
• The stock of WillScot has experienced a decline of 3.2% recently, trading at $24.53, and has seen a 1-year high of $42.15 and a low of $21.91.
• WillScot announced a quarterly dividend of $0.07 per share, payable on September 17th, representing an annual yield of 1.1% and a payout ratio of 46.67%.

Natixis Advisors LLC cut its stake in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 177,337 shares of the company's stock after selling 24,525 shares during the quarter. Natixis Advisors LLC owned about 0.10% of WillScot worth $4,930,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. FMR LLC boosted its stake in WillScot by 12.0% during the fourth quarter. FMR LLC now owns 5,554,101 shares of the company's stock valued at $185,785,000 after buying an additional 595,063 shares during the period. Capital International Investors lifted its stake in WillScot by 20.3% during the fourth quarter. Capital International Investors now owns 5,307,738 shares of the company's stock worth $177,544,000 after purchasing an additional 897,184 shares during the last quarter. Baillie Gifford & Co. bought a new stake in WillScot during the first quarter worth about $145,392,000. Ameriprise Financial Inc. lifted its stake in WillScot by 4.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,832,316 shares of the company's stock worth $161,641,000 after purchasing an additional 223,462 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. lifted its stake in WillScot by 23.9% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 3,594,848 shares of the company's stock worth $120,248,000 after purchasing an additional 693,243 shares during the last quarter. Institutional investors own 95.81% of the company's stock.

WillScot Trading Down 1.3%

Shares of NASDAQ WSC traded down $0.32 during midday trading on Friday, reaching $24.35. The company had a trading volume of 2,298,755 shares, compared to its average volume of 2,371,167. WillScot Holdings Corporation has a one year low of $21.91 and a one year 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 firm's fifty day moving average price is $28.23 and its 200-day moving average price is $29.45. The stock has a market cap of $4.44 billion, a PE ratio of 40.58, a price-to-earnings-growth ratio of 2.20 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 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 24.83%. The company's revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. On average, equities research analysts anticipate that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. WillScot's dividend payout ratio is presently 46.67%.

Analyst Ratings Changes

WSC has been the subject of several research analyst reports. Morgan Stanley dropped their price target on WillScot from $39.00 to $37.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. DA Davidson dropped their price target on WillScot from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, William Blair reaffirmed a "market perform" rating on shares of WillScot in a research note on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $36.00.

Insider Buying and Selling

In other news, Director Dominick P. Zarcone bought 10,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was purchased at an average price of $26.19 per share, with a total value of $261,900.00. Following the transaction, the director owned 15,384 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, CEO Bradley Lee Soultz purchased 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average price of $25.35 per share, for a total transaction of $76,050.00. Following the purchase, the chief executive officer directly owned 126,817 shares in the company, valued at $3,214,810.95. The trade was a 2.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,000 shares of company stock valued at $387,650 in the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

About WillScot

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.