WillScot Holdings Corporation $WSC Shares Sold by Madison Asset Management LLC

Key Points

• Madison Asset Management cut its WillScot position by 56% in the fourth quarter, selling 118,374 shares and leaving it with 92,834 shares worth about $1.75 million.
• WillScot reported better-than-expected quarterly results, posting EPS of $0.21 versus estimates of $0.16 and revenue of $548.63 million versus expectations of $518.17 million, though revenue was still down 2% year over year.
• The company also announced a quarterly dividend of $0.07 per share, while Wall Street maintains a Hold consensus with a $25.63 price target; shares recently traded around $26.13.

Madison Asset Management LLC decreased its position in WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 56.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,834 shares of the company's stock after selling 118,374 shares during the quarter. Madison Asset Management LLC owned 0.05% of WillScot worth $1,748,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of WillScot by 24.6% in the 1st quarter. Royal Bank of Canada now owns 33,684 shares of the company's stock worth $936,000 after purchasing an additional 6,651 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of WillScot by 1.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 724,638 shares of the company's stock worth $20,145,000 after purchasing an additional 8,963 shares during the last quarter. Creative Planning lifted its holdings in shares of WillScot by 6.9% in the 2nd quarter. Creative Planning now owns 15,814 shares of the company's stock worth $433,000 after purchasing an additional 1,024 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of WillScot by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 46,781 shares of the company's stock worth $1,282,000 after purchasing an additional 1,374 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of WillScot by 48.8% in the 2nd quarter. Hsbc Holdings PLC now owns 11,676 shares of the company's stock worth $320,000 after purchasing an additional 3,827 shares during the last quarter. Institutional investors and hedge funds own 95.81% of the company's stock.

Insider Activity

In other news, Director Bradley Lee Soultz sold 4,317 shares of the business's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $25.92, for a total transaction of $111,896.64. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 155,781 shares of company stock worth $4,205,113 over the last quarter. 3.10% of the stock is owned by insiders.

WillScot Stock Up 0.9%

Shares of WillScot stock opened at $26.13 on Friday. The stock's fifty day moving average is $20.25 and its 200-day moving average is $20.36. The firm has a market capitalization of $4.73 billion, a PE ratio of -68.76, a price-to-earnings-growth ratio of 1.54 and a beta of 1.31. 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 Holdings Corporation has a 12-month low of $14.91 and a 12-month high of $31.88.

WillScot (NASDAQ:WSC - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.05. The company had revenue of $548.63 million for the quarter, compared to analyst estimates of $518.17 million. WillScot had a positive return on equity of 20.65% and a negative net margin of 2.99%.WillScot'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 earned $0.26 earnings per share. Equities analysts anticipate that WillScot Holdings Corporation will post 1.1 earnings per share for the current year.

WillScot Dividend Announcement

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

Wall Street Analysts Forecast Growth

WSC has been the topic of several recent research reports. William Blair reissued a "market perform" rating on shares of WillScot in a report on Thursday, March 5th. Robert W. Baird set a $26.00 price target on WillScot in a report on Friday, May 8th. Weiss Ratings reissued a "sell (d+)" rating on shares of WillScot in a report on Wednesday, January 21st. Zacks Research raised WillScot from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 24th. Finally, Morgan Stanley raised their price target on WillScot from $23.00 to $29.00 and gave the stock an "equal weight" rating in a report on Tuesday. Three equities research 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. Based on data from MarketBeat.com, WillScot has a consensus rating of "Hold" and a consensus price target of $25.63.

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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