WillScot Holdings Corporation (NASDAQ:WSC) Position Boosted by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC lifted its position in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 50.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,001 shares of the company's stock after purchasing an additional 27,421 shares during the quarter. WillScot comprises about 0.9% of Carnegie Lake Advisors LLC's holdings, making the stock its 29th biggest holding. Carnegie Lake Advisors LLC's holdings in WillScot were worth $2,280,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WSC. Proficio Capital Partners LLC purchased a new stake in shares of WillScot in the fourth quarter valued at about $432,000. Raymond James Financial Inc. purchased a new position in WillScot during the fourth quarter worth about $8,294,000. Avantax Advisory Services Inc. purchased a new position in WillScot during the fourth quarter worth about $232,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in WillScot during the fourth quarter worth about $297,000. Finally, Thrivent Financial for Lutherans boosted its stake in WillScot by 21.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 26,220 shares of the company's stock worth $877,000 after buying an additional 4,620 shares during the period. Hedge funds and other institutional investors own 95.81% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WSC. William Blair reissued a "market perform" rating on shares of WillScot in a research report on Thursday, May 29th. Barclays reduced their price target on shares of WillScot from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, April 4th. Finally, Morgan Stanley increased their price target on shares of WillScot from $38.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $40.63.

Insiders Place Their Bets

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

WillScot Stock Up 1.8%

Shares of WSC traded up $0.53 during mid-day trading on Tuesday, reaching $30.26. 1,581,980 shares of the stock traded hands, compared to its average volume of 2,656,142. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 336.26, a P/E/G ratio of 1.63 and a beta of 1.24. The stock has a fifty day simple moving average of $28.25 and a 200 day simple moving average of $30.11. WillScot Holdings Corporation has a 12-month low of $21.91 and a 12-month high of $43.80. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 3.56.

WillScot (NASDAQ:WSC - Get Free Report) last posted its quarterly earnings data 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 firm 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 business earned $0.29 EPS. The company's revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts expect that WillScot Holdings Corporation will post 1.77 EPS for the current fiscal year.

WillScot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Wednesday, June 4th. WillScot's dividend payout ratio is presently 311.11%.

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.