WillScot Holdings Corporation $WSC Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in WillScot Holdings Corporation (NASDAQ:WSC) by 56.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 30,439 shares of the company’s stock after selling 40,042 shares during the quarter. State of Alaska Department of Revenue’s holdings in WillScot were worth $522,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in WSC. Turtle Creek Asset Management Inc. raised its stake in shares of WillScot by 27.3% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company’s stock valued at $136,624,000 after purchasing an additional 1,686,077 shares during the period. Nykredit A S purchased a new stake in WillScot during the 2nd quarter worth about $75,934,000. Dimensional Fund Advisors LP lifted its holdings in WillScot by 10.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,110,002 shares of the company’s stock worth $71,339,000 after purchasing an additional 404,469 shares in the last quarter. Bank of New York Mellon Corp bought a new position in WillScot in the 2nd quarter worth about $38,500,000. Finally, Douglas Lane & Associates LLC boosted its stake in WillScot by 5.4% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,811,269 shares of the company’s stock worth $31,118,000 after purchasing an additional 92,065 shares during the period. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WSC shares. Barclays lifted their target price on WillScot from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Citigroup lowered their price target on shares of WillScot from $30.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Robert W. Baird cut their price objective on shares of WillScot from $28.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. UBS Group reduced their price objective on shares of WillScot from $29.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of WillScot in a report on Monday, August 17th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, WillScot currently has an average rating of “Hold” and an average price target of $24.86.

WillScot Stock Performance

Shares of WSC opened at $16.26 on Friday. WillScot Holdings Corporation has a 12-month low of $14.91 and a 12-month high of $29.77. 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 company has a market cap of $2.95 billion, a PE ratio of -42.79, a price-to-earnings-growth ratio of 0.94 and a beta of 1.40. The stock has a 50-day moving average price of $18.68 and a 200-day moving average price of $22.75.

WillScot (NASDAQ:WSC) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $612.15 million for the quarter, compared to analysts’ expectations of $585.43 million. WillScot had a negative net margin of 3.00% and a positive return on equity of 21.62%. WillScot’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. As a group, equities analysts forecast that WillScot Holdings Corporation will post 1.13 earnings per share for the current fiscal year.

WillScot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, September 2nd. This represents a $0.28 annualized dividend and a yield of 1.7%. WillScot’s payout ratio is presently -73.68%.

WillScot Profile

WillScot Holdings Corporation (NASDAQ: WSC) provides flexible workspace and storage solutions primarily to customers across North America. The company offers modular buildings, mobile offices, portable classrooms, storage units and other temporary or permanent space solutions for businesses, schools, construction sites, health care organizations, government agencies and other institutions.

In addition to renting and selling modular space and portable storage products, WillScot provides related services such as delivery, installation, relocation, site improvements, furnishings and facility services.