Vanguard Group Inc. Cuts Stock Holdings in WillScot Holdings Corporation $WSC

Vanguard Group Inc. lowered its position in WillScot Holdings Corporation (NASDAQ:WSC) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,854,171 shares of the company’s stock after selling 241,167 shares during the period. Vanguard Group Inc. owned about 9.81% of WillScot worth $376,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of WillScot during the 2nd quarter worth approximately $125,126,000. Geode Capital Management LLC raised its position in WillScot by 2.2% in the second quarter. Geode Capital Management LLC now owns 3,277,913 shares of the company’s stock worth $89,829,000 after acquiring an additional 71,347 shares in the last quarter. Van Berkom & Associates Inc. raised its position in WillScot by 26.8% in the third quarter. Van Berkom & Associates Inc. now owns 3,054,636 shares of the company’s stock worth $64,483,000 after acquiring an additional 645,246 shares in the last quarter. River Road Asset Management LLC lifted its holdings in WillScot by 75.6% in the second quarter. River Road Asset Management LLC now owns 2,873,521 shares of the company’s stock valued at $84,338,000 after acquiring an additional 1,237,097 shares during the period. Finally, Westfield Capital Management Co. LP boosted its position in shares of WillScot by 2.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 2,861,031 shares of the company’s stock worth $78,392,000 after purchasing an additional 57,946 shares in the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WSC. Weiss Ratings reiterated a “sell (d+)” rating on shares of WillScot in a report on Wednesday, January 21st. Barclays decreased their price objective on shares of WillScot from $22.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. Citigroup increased their target price on shares of WillScot from $25.00 to $26.00 and gave the company a “buy” rating in a report on Monday. Zacks Research upgraded shares of WillScot from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, Robert W. Baird restated a “neutral” rating and issued a $23.00 price target (up from $22.00) on shares of WillScot in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, WillScot currently has a consensus rating of “Hold” and an average price target of $25.38.

WillScot Stock Up 1.4%

WSC stock opened at $22.17 on Friday. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.78. The company’s 50 day simple moving average is $21.01 and its 200-day simple moving average is $21.33. WillScot Holdings Corporation has a 12 month low of $14.91 and a 12 month high of $34.31. The firm has a market capitalization of $4.03 billion, a PE ratio of -73.90, a P/E/G ratio of 1.59 and a beta of 1.12.

WillScot (NASDAQ:WSC) last posted its earnings results on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The company had revenue of $565.97 million during the quarter, compared to analysts’ expectations of $545.34 million. WillScot had a negative net margin of 2.32% and a positive return on equity of 20.42%. WillScot’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. Equities analysts expect that WillScot Holdings Corporation will post 1.77 earnings per share for the current fiscal year.

WillScot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. WillScot’s dividend payout ratio (DPR) is presently -93.33%.

About WillScot

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.