WillScot Holdings Corporation (NASDAQ:WSC) Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. reduced its stake in WillScot Holdings Corporation by 27.1% during the first quarter, now owning approximately 152,099 shares valued at $4,228,000.
• Amalgamated Bank significantly increased its investment in WillScot by 444.7%, acquiring an additional 46,024 shares, while other investors also altered their positions in the company.
• WillScot's quarterly earnings missed analysts' estimates, reporting $0.24 EPS compared to the projected $0.28, with revenue down 4.7% year-over-year at $559.55 million.

Envestnet Asset Management Inc. reduced its stake in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 27.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 152,099 shares of the company's stock after selling 56,589 shares during the period. Envestnet Asset Management Inc. owned 0.08% of WillScot worth $4,228,000 as of its most recent filing with the Securities and Exchange Commission.

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

WillScot Stock Up 1.3%

WSC stock opened at $31.65 on Friday. WillScot Holdings Corporation has a 52-week low of $21.91 and a 52-week high of $42.99. The company's 50 day simple moving average is $28.34 and its 200-day simple moving average is $30.05. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.83 and a quick ratio of 0.76. The firm has a market capitalization of $5.77 billion, a P/E ratio of 351.71, a P/E/G ratio of 1.72 and a beta of 1.24.

WillScot (NASDAQ:WSC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). WillScot had a net margin of 0.63% and a return on equity of 26.28%. The firm had revenue of $559.55 million for the quarter, compared to analyst estimates of $555.51 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The firm's revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that WillScot Holdings Corporation will post 1.77 EPS for the current year.

WillScot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.88%. WillScot's dividend payout ratio is currently 311.11%.

Insider Activity at WillScot

In related news, Director Dominick P. Zarcone purchased 10,000 shares of the stock in a transaction dated Tuesday, June 17th. The shares were acquired at an average cost of $26.19 per share, for a total transaction of $261,900.00. Following the acquisition, the director directly owned 15,384 shares in the company, valued at approximately $402,906.96. The trade was a 185.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bradley Lee Soultz purchased 10,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $26.79 per share, for a total transaction of $267,900.00. Following the completion of the acquisition, the chief executive officer owned 128,817 shares in the company, valued at $3,451,007.43. This represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WSC has been the topic of several research reports. William Blair reaffirmed a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. Barclays dropped their price target on WillScot from $40.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Finally, Morgan Stanley upped their price target on WillScot from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $40.63.

WillScot 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.

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