WillScot Holdings Corporation $WSC Stock Holdings Cut by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its WillScot stake by 85.9% in the first quarter, selling 1.03 million shares and retaining 169,489 shares worth approximately $2.94 million. Institutional investors collectively own 95.81% of the company.
• WillScot exceeded quarterly expectations, reporting $0.28 in EPS versus the $0.25 consensus and revenue of $612.15 million, up 3.9% year over year. Shares opened at $23.76, while analysts’ consensus target is $26.50 with an overall “Hold” rating.
• The company declared a quarterly dividend of $0.07 per share, equivalent to a $0.28 annualized payout and a 1.2% yield, payable September 16 to shareholders of record as of September 2.

Royal Bank of Canada cut its position in shares of WillScot Holdings Corporation (NASDAQ:WSC - Free Report) by 85.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 169,489 shares of the company's stock after selling 1,031,270 shares during the quarter. Royal Bank of Canada owned 0.09% of WillScot worth $2,942,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC boosted 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 buying an additional 679 shares in the last quarter. Parallel Advisors LLC raised its position in 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 acquiring an additional 1,238 shares in the last quarter. CWM LLC raised its position in WillScot by 37.7% in the fourth quarter. CWM LLC now owns 2,071 shares of the company's stock worth $39,000 after acquiring an additional 567 shares in the last quarter. Danske Bank A S acquired a new stake in WillScot in the 3rd quarter valued at about $44,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in WillScot by 130.3% in 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. Institutional investors own 95.81% of the company's stock.

WillScot Trading Up 3.3%

Shares of WSC opened at $23.76 on Friday. The business's 50-day moving average price is $26.52 and its 200 day moving average price is $23.20. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.80. The stock has a market capitalization of $4.30 billion, a P/E ratio of -62.53, a P/E/G ratio of 1.39 and a beta of 1.33. WillScot Holdings Corporation has a 1-year low of $14.91 and a 1-year high of $29.77.

WillScot (NASDAQ:WSC - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating 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 company had revenue of $612.15 million during the quarter, compared to analyst estimates of $585.43 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The business's quarterly revenue was up 3.9% on a year-over-year basis. Analysts expect that WillScot Holdings Corporation will post 1.12 earnings per share for the current year.

WillScot Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of WillScot from $23.00 to $29.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 12th. Barclays boosted their target price on shares of WillScot from $24.00 to $26.00 and gave the stock an "equal weight" rating in a report on Monday, August 10th. Robert W. Baird set a $26.00 target price on shares of WillScot in a report on Friday, May 8th. Oppenheimer restated an "outperform" rating and issued a $29.00 price target on shares of WillScot in a research report on Friday, May 8th. Finally, Citigroup upped their price target on WillScot from $27.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.

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