Westfield Capital Management Co. LP Buys 48,502 Shares of WillScot Holdings Corporation (NASDAQ:WSC)

Key Points

• Westfield Capital Management Co. LP increased its stake in WillScot Holdings Corporation by 1.8%, owning approximately 1.53% of the company valued at $77.9 million after acquiring additional shares in Q1.
• WillScot reported $0.27 earnings per share for the last quarter, missing analyst estimates of $0.36, and had a net margin of 4.66% with revenue down 2.6% year-over-year.
• The company announced a quarterly dividend of $0.07 per share, with a yield of 1.1% and a payout ratio of 46.67%.

Westfield Capital Management Co. LP boosted its position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,803,085 shares of the company's stock after purchasing an additional 48,502 shares during the period. Westfield Capital Management Co. LP owned 1.53% of WillScot worth $77,926,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. purchased a new position in shares of WillScot during the 1st quarter valued at $145,392,000. Invesco Ltd. grew its stake in WillScot by 747.1% in the fourth quarter. Invesco Ltd. now owns 1,820,316 shares of the company's stock valued at $60,890,000 after purchasing an additional 1,605,436 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in WillScot by 1,246.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,229,196 shares of the company's stock worth $41,117,000 after purchasing an additional 1,137,890 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of WillScot by 8,012.5% during the 1st quarter. Principal Financial Group Inc. now owns 917,765 shares of the company's stock valued at $25,514,000 after buying an additional 906,452 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of WillScot by 20.3% in the 4th quarter. Capital International Investors now owns 5,307,738 shares of the company's stock valued at $177,544,000 after buying an additional 897,184 shares in the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

WillScot Price Performance

Shares of NASDAQ WSC traded up $0.26 during mid-day trading on Tuesday, reaching $25.35. The company had a trading volume of 3,461,650 shares, compared to its average volume of 2,265,029. The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.74 and a current ratio of 0.81. WillScot Holdings Corporation has a one year low of $21.91 and a one year high of $42.15. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 2.14 and a beta of 1.20. The business's 50-day simple moving average is $28.45 and its 200 day simple moving average is $29.70.

WillScot (NASDAQ:WSC - Get Free Report) last posted its 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 return on equity of 24.83% and a net margin of 4.66%. The firm's revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. On average, research analysts predict that WillScot Holdings Corporation will post 1.77 earnings per share for the current fiscal year.

WillScot Announces Dividend

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

Analysts Set New Price Targets

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

Insider Transactions at WillScot

In other WillScot news, Director Dominick P. Zarcone purchased 10,000 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were purchased at an average cost of $26.19 per share, with a total value of $261,900.00. Following the completion of the purchase, the director owned 15,384 shares in the company, valued at $402,906.96. This represents a 185.74% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.10% of the company's stock.

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.