Price T Rowe Associates Inc. MD Trims Stock Position in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Price T Rowe Associates Inc. MD cut its holdings in shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC - Free Report) by 53.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,419,149 shares of the company's stock after selling 7,410,481 shares during the period. Price T Rowe Associates Inc. MD owned about 3.47% of WillScot Mobile Mini worth $214,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in WillScot Mobile Mini during the fourth quarter worth $97,734,000. Franklin Resources Inc. raised its position in shares of WillScot Mobile Mini by 34.4% in the 4th quarter. Franklin Resources Inc. now owns 10,314,494 shares of the company's stock worth $345,020,000 after acquiring an additional 2,639,559 shares in the last quarter. Van Berkom & Associates Inc. acquired a new position in shares of WillScot Mobile Mini in the 4th quarter valued at about $58,855,000. Invesco Ltd. boosted its position in shares of WillScot Mobile Mini by 747.1% during the 4th quarter. Invesco Ltd. now owns 1,820,316 shares of the company's stock valued at $60,890,000 after purchasing an additional 1,605,436 shares in the last quarter. Finally, Capital International Investors grew its stake in WillScot Mobile Mini by 20.3% during the fourth quarter. Capital International Investors now owns 5,307,738 shares of the company's stock worth $177,544,000 after purchasing an additional 897,184 shares during the period. 95.81% of the stock is currently owned by institutional investors and hedge funds.

WillScot Mobile Mini Stock Performance

Shares of WSC traded up $0.62 on Thursday, reaching $25.74. 851,658 shares of the company's stock traded hands, compared to its average volume of 2,717,560. The stock's 50 day simple moving average is $27.64 and its two-hundred day simple moving average is $33.53. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 3.42. WillScot Mobile Mini Holdings Corp. has a 52-week low of $21.91 and a 52-week high of $43.80. The stock has a market cap of $4.73 billion, a PE ratio of 171.54, a PEG ratio of 2.18 and a beta of 1.25.

WillScot Mobile Mini (NASDAQ:WSC - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.01. WillScot Mobile Mini had a net margin of 1.17% and a return on equity of 24.67%. The company had revenue of $602.52 million for the quarter, compared to the consensus estimate of $606.55 million. On average, analysts forecast that WillScot Mobile Mini Holdings Corp. will post 1.77 earnings per share for the current fiscal year.

WillScot Mobile Mini Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.09%. WillScot Mobile Mini's dividend payout ratio (DPR) is presently 186.67%.

Insider Activity at WillScot Mobile Mini

In other WillScot Mobile Mini news, COO Timothy D. Boswell acquired 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $29.14 per share, with a total value of $145,700.00. Following the acquisition, the chief operating officer now owns 34,156 shares in the company, valued at approximately $995,305.84. This represents a 17.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Erik Olsson sold 110,307 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $30.19, for a total transaction of $3,330,168.33. Following the sale, the director now directly owns 626,306 shares in the company, valued at $18,908,178.14. The trade was a 14.97 % decrease in their position. The disclosure for this sale can be found here. 3.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on WillScot Mobile Mini from $50.00 to $38.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird reduced their price objective on shares of WillScot Mobile Mini from $38.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Oppenheimer dropped their price target on shares of WillScot Mobile Mini from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. Finally, Barclays decreased their price objective on WillScot Mobile Mini from $40.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, WillScot Mobile Mini has an average rating of "Moderate Buy" and an average target price of $40.50.

WillScot Mobile Mini Company Profile

WillScot Holdings Corporation provides workspace and portable storage solutions in the United States, Canada, and Mexico. It operates in two segments, Modular Solutions and Storage Solutions. Its modular solutions include panelized and stackable offices, single-wide modular space units, section modulars and redi-plex, classrooms, ground level offices, blast-resistant modules, clearspan structures, and other modular space; and portable storage solutions, such as portable and cold storage containers, as well as trailers.