Westfield Capital Management Co. LP Has $77.93 Million Holdings in 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 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 Securities & Exchange Commission. The fund owned 2,803,085 shares of the company's stock after purchasing an additional 48,502 shares during the quarter. Westfield Capital Management Co. LP owned about 1.53% of WillScot worth $77,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in WillScot by 273.2% in the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company's stock worth $26,000 after purchasing an additional 683 shares in the last quarter. State of Wyoming acquired a new stake in WillScot during the 4th quarter worth about $34,000. Golden State Wealth Management LLC boosted its position in WillScot by 428.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,384 shares of the company's stock worth $38,000 after acquiring an additional 1,122 shares during the period. CWM LLC boosted its position in WillScot by 89.9% during the 1st quarter. CWM LLC now owns 1,747 shares of the company's stock worth $49,000 after acquiring an additional 827 shares during the period. Finally, Fifth Third Bancorp boosted its position in WillScot by 28.0% during the 1st quarter. Fifth Third Bancorp now owns 2,358 shares of the company's stock worth $66,000 after acquiring an additional 516 shares during the period. 95.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WSC has been the subject of a number of research reports. DA Davidson decreased their price objective on WillScot from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Morgan Stanley lowered their price objective on WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a report on Monday. Finally, William Blair reissued a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $36.00.

Insiders Place Their Bets

In other WillScot news, CEO Bradley Lee Soultz bought 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average price of $25.35 per share, with a total value of $76,050.00. Following the completion of the transaction, the chief executive officer owned 126,817 shares in the company, valued at approximately $3,214,810.95. This trade represents a 2.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dominick P. Zarcone bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was acquired at an average cost 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 $402,906.96. This represents a 185.74% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 15,000 shares of company stock valued at $387,650. 3.10% of the stock is owned by insiders.

WillScot Stock Down 1.2%

Shares of NASDAQ:WSC traded down $0.31 during midday trading on Friday, reaching $24.36. 1,254,401 shares of the company were exchanged, compared to its average volume of 2,679,882. WillScot Holdings Corporation has a fifty-two week low of $21.91 and a fifty-two week 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 stock has a fifty day simple moving average of $28.28 and a two-hundred day simple moving average of $29.55. The firm has a market cap of $4.44 billion, a PE ratio of 40.64, a P/E/G ratio of 2.19 and a beta of 1.20.

WillScot (NASDAQ:WSC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.09). WillScot had a return on equity of 24.83% and a net margin of 4.66%. The company had revenue of $589.08 million for the quarter, compared to analyst estimates of $587.07 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. The company's revenue was down 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a $0.07 dividend. 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 (DPR) is 46.67%.

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.