Invesco Ltd. Purchases 357,777 Shares of WillScot Holdings Corporation $WSC

Key Points

• Invesco Ltd. increased its stake in WillScot Holdings Corporation by 19.7%, acquiring a total of 2,178,093 shares valued at approximately $60.6 million.
• CEO Bradley Lee Soultz purchased 2,000 shares at an average price of $24.85, raising his ownership in the company, showcasing insider confidence.
• WillScot's quarterly earnings reported an EPS of $0.27, falling short of expectations, with a revenue of $589.08 million reflecting a 2.6% annual decline.

Invesco Ltd. lifted its holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,178,093 shares of the company's stock after purchasing an additional 357,777 shares during the period. Invesco Ltd. owned 1.19% of WillScot worth $60,551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Amalgamated Bank grew its stake in WillScot by 444.7% in the first quarter. Amalgamated Bank now owns 56,374 shares of the company's stock valued at $1,567,000 after acquiring an additional 46,024 shares during the period. GAMMA Investing LLC raised its position in shares of WillScot by 273.2% during the first quarter. GAMMA Investing LLC now owns 933 shares of the company's stock worth $26,000 after purchasing an additional 683 shares during the period. KBC Group NV raised its position in shares of WillScot by 16.7% during the first quarter. KBC Group NV now owns 9,166 shares of the company's stock worth $255,000 after purchasing an additional 1,312 shares during the period. New York State Teachers Retirement System acquired a new position in shares of WillScot during the first quarter worth approximately $1,148,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of WillScot during the first quarter worth approximately $10,987,000. Institutional investors own 95.81% of the company's stock.

Insider Buying and Selling

In other WillScot news, Director Dominick P. Zarcone purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was bought at an average cost of $26.19 per share, with a total value of $261,900.00. Following the completion of the transaction, the director owned 15,384 shares of the company's stock, valued at $402,906.96. The trade was a 185.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bradley Lee Soultz acquired 2,000 shares of WillScot stock in a transaction on Tuesday, August 5th. The shares were purchased at an average cost of $24.85 per share, with a total value of $49,700.00. Following the completion of the acquisition, the chief executive officer owned 418,376 shares of the company's stock, valued at $10,396,643.60. This trade represents a 0.48% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 15,000 shares of company stock valued at $387,650 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WSC. William Blair reaffirmed a "market perform" rating on shares of WillScot in a research report on Thursday, May 29th. Morgan Stanley lowered their price objective on WillScot from $39.00 to $37.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, DA Davidson lowered their price objective on WillScot from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $36.00.

WillScot Stock Performance

Shares of WSC traded up $0.31 on Tuesday, reaching $24.49. 1,923,560 shares of the company's stock traded hands, compared to its average volume of 2,675,935. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.55. The stock has a market cap of $4.46 billion, a PE ratio of 40.82, a PEG ratio of 2.16 and a beta of 1.20. The stock's 50 day simple moving average is $27.85 and its two-hundred day simple moving average is $28.77. WillScot Holdings Corporation has a 52-week low of $21.91 and a 52-week high of $42.15.

WillScot (NASDAQ:WSC - Get Free Report) last issued its quarterly 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 business had revenue of $589.08 million for the quarter, compared to analysts' expectations of $587.07 million. WillScot had a net margin of 4.66% and a return on equity of 24.83%. The business's revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. WillScot has set its FY 2025 guidance at EPS. On average, analysts forecast that WillScot Holdings Corporation will post 1.77 earnings per share for the current fiscal year.

WillScot Announces Dividend

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