WillScot Holdings Corporation $WSC Shares Acquired by Clearline Capital LP

Key Points

• Clearline Capital LP increased its stake in WillScot by 79.4% in the fourth quarter, buying 71,251 additional shares and ending with 160,940 shares valued at about $3.03 million.
• WillScot reported better-than-expected quarterly results, posting EPS of $0.21 versus the $0.16 consensus and revenue of $548.63 million versus expectations of $518.17 million.
• The stock has attracted mixed views: analysts currently rate it Hold on average, while insiders have sold shares recently and the company paid a quarterly dividend of $0.07 per share.

Clearline Capital LP boosted its holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 79.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,940 shares of the company's stock after purchasing an additional 71,251 shares during the period. Clearline Capital LP owned approximately 0.09% of WillScot worth $3,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WSC. Salomon & Ludwin LLC lifted its stake in WillScot by 117.3% during the fourth quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company's stock valued at $25,000 after purchasing an additional 679 shares during the last quarter. CWM LLC lifted its stake in WillScot by 37.7% during the fourth quarter. CWM LLC now owns 2,071 shares of the company's stock valued at $39,000 after purchasing an additional 567 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of WillScot by 149.9% during the fourth quarter. Parallel Advisors LLC now owns 2,064 shares of the company's stock valued at $39,000 after acquiring an additional 1,238 shares during the period. Danske Bank A S acquired a new stake in shares of WillScot during the third quarter valued at approximately $44,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of WillScot by 160.4% during the fourth quarter. Advisors Asset Management Inc. now owns 2,961 shares of the company's stock valued at $56,000 after acquiring an additional 1,824 shares during the period. 95.81% of the stock is owned by institutional investors and hedge funds.

WillScot Stock Performance

WSC stock opened at $27.84 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 4.00. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of -73.26, a P/E/G ratio of 1.69 and a beta of 1.34. WillScot Holdings Corporation has a 12 month low of $14.91 and a 12 month high of $31.88. The firm has a 50 day moving average of $23.93 and a two-hundred day moving average of $21.51.

WillScot (NASDAQ:WSC - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The company had revenue of $548.63 million during the quarter, compared to the consensus estimate of $518.17 million. WillScot had a negative net margin of 2.99% and a positive return on equity of 20.65%. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. As a group, equities analysts anticipate that WillScot Holdings Corporation will post 1.1 EPS for the current fiscal year.

WillScot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 3rd. WillScot's payout ratio is currently -73.68%.

Analyst Ratings Changes

A number of research firms have recently issued reports on WSC. Zacks Research upgraded shares of WillScot from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 24th. Weiss Ratings restated a "sell (d)" rating on shares of WillScot in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of WillScot from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. DA Davidson cut their price target on shares of WillScot from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, February 24th. Finally, William Blair restated a "market perform" rating on shares of WillScot in a report on Thursday, March 5th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, WillScot presently has an average rating of "Hold" and an average target price of $25.88.

Insider Buying and Selling

In other WillScot news, Director Bradley Lee Soultz sold 4,317 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $25.92, for a total value of $111,896.64. Following the completion of the sale, the director directly owned 414,059 shares of the company's stock, valued at $10,732,409.28. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 155,781 shares of company stock valued at $4,205,113 over the last ninety days. Insiders own 3.10% of the company's stock.

WillScot Company Profile

WillScot NASDAQ: WSC is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.

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