Riverbridge Partners LLC Cuts Stock Position in WillScot Holdings Corporation (NASDAQ:WSC)

Riverbridge Partners LLC cut its position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 941,315 shares of the company's stock after selling 87,924 shares during the period. Riverbridge Partners LLC owned 0.51% of WillScot worth $26,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in WillScot by 273.2% in the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after buying an additional 683 shares in the last quarter. State of Wyoming bought a new stake in WillScot in the fourth quarter valued at about $34,000. Fifth Third Bancorp increased its holdings in WillScot by 28.0% in the first quarter. Fifth Third Bancorp now owns 2,358 shares of the company's stock valued at $66,000 after purchasing an additional 516 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of WillScot by 93.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,303 shares of the company's stock worth $77,000 after buying an additional 1,113 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of WillScot during the fourth quarter worth about $154,000. 95.81% of the stock is owned by hedge funds and other institutional investors.

WillScot Trading Up 1.9%

NASDAQ:WSC traded up $0.51 during mid-day trading on Monday, reaching $26.72. 2,426,627 shares of the company's stock traded hands, compared to its average volume of 2,696,387. WillScot Holdings Corporation has a 12-month low of $21.91 and a 12-month high of $43.80. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 296.92, a PEG ratio of 1.44 and a beta of 1.25. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.83 and a quick ratio of 0.76. The company has a 50 day moving average price of $26.68 and a 200-day moving average price of $30.94.

WillScot (NASDAQ:WSC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). WillScot had a net margin of 0.63% and a return on equity of 26.28%. The business had revenue of $559.55 million for the quarter, compared to analysts' expectations of $555.51 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The firm's revenue for the quarter was down 4.7% on a year-over-year basis. On average, sell-side analysts predict that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.28 annualized dividend and a yield of 1.05%. WillScot's payout ratio is 311.11%.

Analyst Upgrades and Downgrades

WSC has been the topic of a number of recent research reports. Barclays lowered 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. Oppenheimer dropped their price objective on WillScot from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. William Blair reaffirmed a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. Morgan Stanley lifted their price objective on WillScot from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Robert W. Baird decreased their price objective on WillScot from $38.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.63.

Insider Buying and Selling at WillScot

In related news, Director Dominick P. Zarcone purchased 10,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were bought at an average price of $26.19 per share, for a total transaction of $261,900.00. Following the purchase, the director now directly owns 15,384 shares of the company's stock, valued at approximately $402,906.96. This represents a 185.74% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.10% of the company's stock.

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.