Invesco Ltd. Acquires 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 first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,178,093 shares of the company's stock after buying an additional 357,777 shares during the quarter. Invesco Ltd. owned about 1.19% of WillScot worth $60,551,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of WillScot by 11.7% during the 1st quarter. Vanguard Group Inc. now owns 18,338,511 shares of the company's stock valued at $509,811,000 after buying an additional 1,924,653 shares in the last quarter. Capital International Investors lifted its stake in shares of WillScot by 20.3% during 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. Baillie Gifford & Co. purchased a new stake in shares of WillScot during the 1st quarter valued at approximately $145,392,000. Ameriprise Financial Inc. lifted its stake in shares of WillScot by 4.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,832,316 shares of the company's stock valued at $161,641,000 after buying an additional 223,462 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. lifted its stake in shares of WillScot by 23.9% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 3,594,848 shares of the company's stock valued at $120,248,000 after buying an additional 693,243 shares in the last quarter. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

WillScot Price Performance

Shares of NASDAQ:WSC traded down $0.30 during trading on Thursday, reaching $23.40. The company had a trading volume of 2,264,780 shares, compared to its average volume of 2,749,711. The company has a fifty day moving average of $27.59 and a two-hundred day moving average of $28.62. The stock has a market capitalization of $4.26 billion, a P/E ratio of 39.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. WillScot Holdings Corporation has a 12 month low of $21.91 and a 12 month high of $42.15. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.55.

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 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%.WillScot's quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. WillScot has set its FY 2025 guidance at EPS. Equities research analysts forecast that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued 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 dividend yield of 1.2%. WillScot's dividend payout ratio is presently 46.67%.

Insider Transactions at WillScot

In related news, EVP Hezron T. Lopez sold 22,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total transaction of $541,860.00. Following the transaction, the executive vice president owned 54,038 shares of the company's stock, valued at approximately $1,330,955.94. This trade represents a 28.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bradley Lee Soultz bought 3,000 shares of WillScot stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average cost of $25.35 per share, for a total transaction of $76,050.00. Following the acquisition, the chief executive officer owned 126,817 shares in the company, valued at $3,214,810.95. The trade was a 2.42% 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 in the last quarter. Insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WSC. DA Davidson lowered their target price on shares of WillScot from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Morgan Stanley lowered their target price on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, William Blair reiterated a "market perform" rating on shares of WillScot in a research note on Thursday, May 29th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $36.00.

WillScot Company 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.