WillScot Holdings Corporation $WSC Shares Acquired by K.J. Harrison & Partners Inc

Key Points

• K.J. Harrison & Partners boosted its stake in WillScot Holdings by 119.5% in the first quarter, ending with 260,800 shares worth about $4.53 million. The filing highlights continued heavy institutional ownership of the stock.
• WillScot reported better-than-expected quarterly results, posting EPS of $0.21 versus the $0.16 consensus and revenue of $548.63 million versus $518.17 million expected. However, revenue still declined 2% year over year and earnings were down from the prior year.
• The company paid a quarterly dividend of $0.07 per share, equivalent to $0.28 annually and a yield of about 1.1%. Analysts currently rate the stock a consensus Hold, with an average price target of $25.88.

K.J. Harrison & Partners Inc lifted its stake in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 119.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,800 shares of the company's stock after purchasing an additional 142,000 shares during the quarter. K.J. Harrison & Partners Inc owned about 0.14% of WillScot worth $4,527,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its stake in WillScot by 334.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,522,450 shares of the company's stock valued at $103,988,000 after buying an additional 4,250,951 shares during the period. Turtle Creek Asset Management Inc. raised its position in WillScot by 71.7% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 8,730,347 shares of the company's stock worth $184,298,000 after buying an additional 3,645,350 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of WillScot by 210.9% in the 4th quarter. Primecap Management Co. CA now owns 4,267,400 shares of the company's stock worth $80,355,000 after acquiring an additional 2,894,900 shares during the period. Norges Bank acquired a new stake in shares of WillScot in the 4th quarter worth $40,925,000. Finally, Coliseum Capital Management LLC boosted its holdings in shares of WillScot by 70.7% in the fourth quarter. Coliseum Capital Management LLC now owns 5,111,602 shares of the company's stock valued at $96,251,000 after acquiring an additional 2,117,247 shares in the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

WillScot Price Performance

Shares of NASDAQ WSC opened at $26.66 on Friday. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of -70.16, a price-to-earnings-growth ratio of 1.59 and a beta of 1.32. WillScot Holdings Corporation has a 52 week low of $14.91 and a 52 week high of $31.88. The firm has a 50-day moving average price of $26.01 and a 200 day moving average price of $22.14. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 4.00.

WillScot (NASDAQ:WSC - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS. Equities research analysts anticipate that WillScot Holdings Corporation will post 1.1 EPS for the current fiscal year.

WillScot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, June 3rd. WillScot's payout ratio is presently -73.68%.

Insiders Place Their Bets

In other WillScot news, Director Bradley Lee Soultz sold 4,317 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $25.92, for a total value of $111,896.64. Following the sale, the director owned 414,059 shares of the company's stock, valued at approximately $10,732,409.28. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 155,781 shares of company stock valued at $4,205,113 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WSC has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of WillScot from $23.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 12th. Robert W. Baird set a $26.00 price objective on shares of WillScot in a research report on Friday, May 8th. Barclays lifted their price objective on WillScot from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Friday, May 15th. Wall Street Zen upgraded WillScot from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Citigroup increased their target price on WillScot from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, WillScot presently has an average rating of "Hold" and an average target price of $25.88.

WillScot 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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