WillScot Holdings Corporation $WSC Shares Sold by Diversified Management Inc.

Key Points

• Diversified Management reduced its WillScot stake by 24.5% in the second quarter, selling 293,640 shares and retaining 906,281 shares valued at approximately $26.2 million. Institutional investors and hedge funds collectively own 95.81% of the stock.
• WillScot reported quarterly EPS of $0.28, beating estimates of $0.25, while revenue rose 3.9% year over year to $612.15 million, above the $585.43 million consensus.
• The company declared a quarterly dividend of $0.07, representing a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $26.50.

Diversified Management Inc. cut its holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 24.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 906,281 shares of the company's stock after selling 293,640 shares during the quarter. WillScot makes up approximately 5.6% of Diversified Management Inc.'s holdings, making the stock its 4th largest holding. Diversified Management Inc. owned about 0.50% of WillScot worth $26,155,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Salomon & Ludwin LLC grew its position in shares of WillScot by 117.3% during the fourth quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company's stock worth $25,000 after buying an additional 679 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of WillScot by 149.9% in the fourth quarter. Parallel Advisors LLC now owns 2,064 shares of the company's stock worth $39,000 after buying an additional 1,238 shares during the last quarter. CWM LLC raised its holdings in WillScot by 37.7% in the fourth quarter. CWM LLC now owns 2,071 shares of the company's stock valued at $39,000 after acquiring an additional 567 shares in the last quarter. Danske Bank A S acquired a new stake in WillScot in the third quarter valued at $44,000. Finally, CIBC Private Wealth Group LLC boosted its stake in WillScot by 130.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,766 shares of the company's stock valued at $58,000 after acquiring an additional 1,565 shares during the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

WillScot Stock Performance

WSC stock opened at $22.89 on Wednesday. The stock's 50 day simple moving average is $26.71 and its 200 day simple moving average is $23.18. WillScot Holdings Corporation has a 12-month low of $14.91 and a 12-month high of $29.77. The firm has a market cap of $4.14 billion, a P/E ratio of -60.24, a P/E/G ratio of 1.35 and a beta of 1.33. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.80.

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

WillScot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. WillScot's payout ratio is -73.68%.

Analysts Set New Price Targets

WSC has been the subject of several recent analyst reports. Robert W. Baird set a $26.00 price objective on shares of WillScot in a report on Friday, May 8th. Morgan Stanley boosted their target price on shares of WillScot from $23.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 12th. Citigroup upped their target price on shares of WillScot from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Wall Street Zen raised shares of WillScot from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Barclays lifted their price target on WillScot from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $26.50.

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.

Want to see what other hedge funds are holding WSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WillScot Holdings Corporation (NASDAQ:WSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source