WillScot Holdings Corporation $WSC Position Trimmed by Baird Financial Group Inc.

Key Points

• Baird Financial Group cut its WillScot stake by 79.9% in the second quarter, selling 87,769 shares and retaining 22,071 shares worth approximately $637,000.
• Institutional ownership remains high at 95.81%, with several major investors—including Turtle Creek Asset Management and Capital International Investors—adding to their positions.
• WillScot beat quarterly expectations with earnings of $0.28 per share and revenue of $612.15 million, while analysts maintain a consensus “Hold” rating and a $26.50 price target.

Baird Financial Group Inc. trimmed its stake in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 79.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,071 shares of the company's stock after selling 87,769 shares during the quarter. Baird Financial Group Inc.'s holdings in WillScot were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in WSC. Turtle Creek Asset Management Inc. boosted its stake in shares of WillScot by 27.3% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company's stock valued at $136,624,000 after buying an additional 1,686,077 shares during the period. Capital International Investors raised its holdings in shares of WillScot by 10.8% during the fourth quarter. Capital International Investors now owns 5,489,528 shares of the company's stock worth $103,368,000 after acquiring an additional 536,511 shares in the last quarter. Nykredit A S purchased a new stake in shares of WillScot during the second quarter worth $75,934,000. Dimensional Fund Advisors LP boosted its position in WillScot by 10.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,110,002 shares of the company's stock valued at $71,339,000 after purchasing an additional 404,469 shares during the last quarter. Finally, Norges Bank acquired a new stake in WillScot during the fourth quarter valued at $40,925,000. 95.81% of the stock is currently owned by institutional investors and hedge funds.

WillScot Stock Performance

WSC opened at $18.17 on Monday. The firm has a market capitalization of $3.29 billion, a P/E ratio of -47.82, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31. The stock's 50 day moving average price is $22.86 and its two-hundred day moving average price is $23.01. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.80. WillScot Holdings Corporation has a 12-month low of $14.91 and a 12-month high of $29.77.

WillScot (NASDAQ:WSC - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $612.15 million for the quarter, compared to the consensus estimate of $585.43 million. WillScot had a negative net margin of 3.00% and a positive return on equity of 21.62%. WillScot's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share. On average, equities analysts forecast that WillScot Holdings Corporation will post 1.12 earnings per share for the current year.

WillScot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, September 2nd. WillScot's dividend payout ratio is -73.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of WillScot in a research note on Monday, August 17th. Citigroup boosted their price target on WillScot from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Finally, Barclays increased their price objective on WillScot from $24.00 to $26.00 and gave the stock an "equal weight" rating in a report on Monday, August 10th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, WillScot currently has a consensus rating of "Hold" and a consensus price target of $26.50.

WillScot Profile

WillScot NASDAQ: WSC is a North American provider of flexible workspace and storage solutions. The company serves construction, commercial, education, healthcare, government and other organizations that need temporary, relocatable or expandable facilities.

Its offerings include mobile offices, modular buildings, classrooms, portable restrooms, storage containers and other portable structures. WillScot also provides related services such as delivery, installation, relocation, dismantling, site services, furnishings and facility accessories, allowing customers to deploy complete temporary or semi-permanent workspaces.

The company was formed through the 2020 combination of WillScot Corporation and Mobile Mini, bringing together modular workspace and portable storage operations.

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