Principal Financial Group Inc. Sells 26,706 Shares of WillScot Holdings Corporation $WSC

Principal Financial Group Inc. reduced its stake in WillScot Holdings Corporation (NASDAQ:WSC) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 873,292 shares of the company’s stock after selling 26,706 shares during the period. Principal Financial Group Inc.’s holdings in WillScot were worth $18,435,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. William Blair Investment Management LLC grew its holdings in shares of WillScot by 3.4% during the 2nd quarter. William Blair Investment Management LLC now owns 5,462,958 shares of the company’s stock worth $149,685,000 after acquiring an additional 180,797 shares during the period. Norges Bank bought a new stake in shares of WillScot during the second quarter valued at approximately $125,126,000. Geode Capital Management LLC grew its stake 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 purchasing an additional 71,347 shares during the period. River Road Asset Management LLC raised 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 worth $84,338,000 after purchasing an additional 1,237,097 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in WillScot by 2.1% during the second quarter. Westfield Capital Management Co. LP now owns 2,861,031 shares of the company’s stock valued at $78,392,000 after buying an additional 57,946 shares during the period. 95.81% of the stock is owned by institutional investors.

WillScot Price Performance

WSC opened at $22.26 on Monday. The company’s 50-day simple moving average is $20.53 and its two-hundred day simple moving average is $21.81. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.72 and a current ratio of 0.79. The stock has a market capitalization of $4.05 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.02 and a beta of 1.12. WillScot Holdings Corporation has a 52-week low of $14.91 and a 52-week high of $39.12.

WillScot (NASDAQ:WSC) last announced its earnings results on Thursday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. WillScot had a net margin of 9.64% and a return on equity of 23.09%. The business had revenue of $566.84 million during the quarter, compared to analyst estimates of $583.52 million. During the same period in the previous year, the business earned $0.38 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, analysts predict that WillScot Holdings Corporation will post 1.77 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on WSC. Wall Street Zen downgraded shares of WillScot from a “hold” rating to a “sell” rating in a research report on Saturday. Robert W. Baird reissued a “neutral” rating and set a $23.00 price target (up from $22.00) on shares of WillScot in a research report on Wednesday, January 21st. Citigroup boosted their price objective on shares of WillScot from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Barclays decreased their target price on shares of WillScot from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Finally, DA Davidson lowered their target price on shares of WillScot from $35.00 to $32.00 and set a “buy” rating for the company in a report on Monday, November 10th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.88.

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.