Van Berkom & Associates Inc. Acquires 232,468 Shares of WillScot Holdings Corporation (NASDAQ:WSC)

Key Points

• Van Berkom & Associates Inc. increased its stake in WillScot Holdings Corporation by 13.2%, owning approximately 1.09% or about $55.38 million worth of the company as of the latest reporting period.
• Directors, including CEO Bradley Lee Soultz, have shown confidence in the company by purchasing additional shares, with Soultz increasing his ownership by 8.42%.
• WillScot's stock has received mixed feedback from analysts, with a consensus rating of "Moderate Buy" and an average target price of $40.63.

Van Berkom & Associates Inc. grew its holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 13.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,991,961 shares of the company's stock after buying an additional 232,468 shares during the period. Van Berkom & Associates Inc. owned approximately 1.09% of WillScot worth $55,377,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of WSC. Fifth Third Bancorp lifted its holdings in shares of WillScot by 28.0% in the 1st quarter. Fifth Third Bancorp now owns 2,358 shares of the company's stock worth $66,000 after purchasing an additional 516 shares in the last quarter. Xponance Inc. lifted its stake in WillScot by 4.2% during the 1st quarter. Xponance Inc. now owns 14,101 shares of the company's stock valued at $392,000 after acquiring an additional 568 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in WillScot by 8.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,533 shares of the company's stock valued at $209,000 after acquiring an additional 583 shares in the last quarter. GAMMA Investing LLC lifted its stake in WillScot by 273.2% during the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after acquiring an additional 683 shares in the last quarter. Finally, CWM LLC lifted its stake in WillScot by 89.9% during the 1st quarter. CWM LLC now owns 1,747 shares of the company's stock valued at $49,000 after acquiring an additional 827 shares in the last quarter. 95.81% of the stock is currently owned by institutional investors.

WillScot Stock Performance

WSC traded down $0.47 during trading hours on Wednesday, hitting $30.71. The stock had a trading volume of 1,039,538 shares, compared to its average volume of 2,619,246. The company's fifty day simple moving average is $28.43 and its 200 day simple moving average is $29.97. WillScot Holdings Corporation has a 1 year low of $21.91 and a 1 year high of $42.15. The stock has a market cap of $5.60 billion, a PE ratio of 341.59, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. 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 announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.04). WillScot had a return on equity of 26.28% and a net margin of 0.63%. The firm had revenue of $559.55 million during the quarter, compared to analysts' expectations of $555.51 million. During the same period last year, the business posted $0.29 EPS. The company's revenue was down 4.7% compared to the same quarter last year. Equities analysts anticipate that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Wednesday, June 4th. WillScot's payout ratio is presently 311.11%.

Wall Street Analysts Forecast Growth

WSC has been the topic of several recent analyst reports. Barclays dropped 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. Morgan Stanley lifted their target price on WillScot from $38.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Finally, William Blair reiterated a "market perform" rating on shares of WillScot in a research note on Thursday, May 29th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.63.

Insider Transactions at WillScot

In related news, Director Dominick P. Zarcone bought 10,000 shares of WillScot stock in a transaction on Tuesday, June 17th. The stock was acquired at an average price of $26.19 per share, with a total value of $261,900.00. Following the acquisition, the director directly owned 15,384 shares of the company's stock, valued at $402,906.96. This represents a 185.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bradley Lee Soultz bought 10,000 shares of WillScot stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $26.79 per share, with a total value of $267,900.00. Following the acquisition, the chief executive officer directly owned 128,817 shares in the company, 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. 3.10% of the stock is owned by insiders.

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.