Jackson Square Partners LLC Purchases 25,730 Shares of WillScot Holdings Corporation (NASDAQ:WSC)

Key Points

• Jackson Square Partners LLC increased its stake in WillScot Holdings Corporation by 5.3%, now holding 514,439 shares, worth approximately $14.3 million, making it the 29th largest holding in their portfolio.
• WillScot recently reported earnings of $0.27 per share, missing estimates of $0.36, and experienced a 2.6% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.07 per share, which translates to an annualized yield of 1.1%, with a payout ratio of 46.67%.

Jackson Square Partners LLC raised its position in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 514,439 shares of the company's stock after acquiring an additional 25,730 shares during the quarter. WillScot makes up about 1.9% of Jackson Square Partners LLC's holdings, making the stock its 29th biggest holding. Jackson Square Partners LLC owned about 0.28% of WillScot worth $14,301,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased 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 acquiring an additional 1,924,653 shares during the last quarter. FMR LLC increased its holdings in shares of WillScot by 12.0% during the fourth quarter. FMR LLC now owns 5,554,101 shares of the company's stock valued at $185,785,000 after purchasing an additional 595,063 shares during the period. Capital International Investors grew its holdings in WillScot by 20.3% during the fourth quarter. Capital International Investors now owns 5,307,738 shares of the company's stock worth $177,544,000 after acquiring an additional 897,184 shares during the period. Baillie Gifford & Co. acquired a new position in shares of WillScot in the 1st quarter valued at $145,392,000. Finally, Ameriprise Financial Inc. boosted its position in shares of WillScot by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 4,832,316 shares of the company's stock valued at $161,641,000 after purchasing an additional 223,462 shares during the period. 95.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WSC. Morgan Stanley decreased their price target on WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. DA Davidson dropped their price target on WillScot from $45.00 to $40.00 and set a "buy" rating for the company in a report on Friday, August 1st. 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 three have assigned a buy rating to the company's stock. According to MarketBeat.com, WillScot has an average rating of "Hold" and a consensus target price of $36.00.

Insider Buying and Selling

In related news, Director Dominick P. Zarcone bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was purchased at an average cost of $26.19 per share, for a total transaction of $261,900.00. Following the purchase, the director directly owned 15,384 shares in the company, valued at $402,906.96. This trade represents a 185.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bradley Lee Soultz acquired 2,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average price of $24.85 per share, with a total value of $49,700.00. Following the purchase, the chief executive officer owned 418,376 shares in the company, valued at approximately $10,396,643.60. This represents a 0.48% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 15,000 shares of company stock valued at $387,650. Company insiders own 3.10% of the company's stock.

WillScot Price Performance

WSC stock traded down $0.52 during mid-day trading on Monday, reaching $23.83. The company's stock had a trading volume of 771,057 shares, compared to its average volume of 2,674,136. The stock has a market cap of $4.34 billion, a PE ratio of 39.73, a P/E/G ratio of 2.17 and a beta of 1.20. 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 Holdings Corporation has a fifty-two week low of $21.91 and a fifty-two week high of $42.15. The company's 50 day moving average is $28.23 and its two-hundred day moving average is $29.32.

WillScot (NASDAQ:WSC - Get Free Report) last posted 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). The business had revenue of $589.08 million during the quarter, compared to analyst estimates of $587.07 million. WillScot had a net margin of 4.66% and a return on equity of 24.83%. The company's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Equities research analysts expect that WillScot Holdings Corporation will post 1.77 EPS 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 paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. WillScot's dividend payout ratio is currently 46.67%.

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.