AMI Asset Management Corp Sells 1,074 Shares of WillScot Holdings Corporation (NASDAQ:WSC)

AMI Asset Management Corp lessened its holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC) by 3.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 32,193 shares of the company’s stock after selling 1,074 shares during the period. AMI Asset Management Corp’s holdings in WillScot were worth $895,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Norges Bank acquired a new position in WillScot in the fourth quarter valued at about $97,734,000. Franklin Resources Inc. lifted its stake in WillScot by 34.4% in the fourth quarter. Franklin Resources Inc. now owns 10,314,494 shares of the company’s stock valued at $345,020,000 after buying an additional 2,639,559 shares during the period. Invesco Ltd. lifted its stake in WillScot by 747.1% in the fourth quarter. Invesco Ltd. now owns 1,820,316 shares of the company’s stock valued at $60,890,000 after buying an additional 1,605,436 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in WillScot by 1,246.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,229,196 shares of the company’s stock valued at $41,117,000 after buying an additional 1,137,890 shares during the period. Finally, Capital International Investors lifted its stake in WillScot by 20.3% in the fourth quarter. Capital International Investors now owns 5,307,738 shares of the company’s stock valued at $177,544,000 after buying an additional 897,184 shares during the period. Institutional investors own 95.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on WSC. Robert W. Baird cut their target price on WillScot from $38.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Oppenheimer decreased their price objective on WillScot from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, March 10th. William Blair reiterated a “market perform” rating on shares of WillScot in a report on Thursday, May 29th. Morgan Stanley increased their price objective on WillScot from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Finally, Barclays decreased their price objective on WillScot from $40.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, April 4th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.63.

WillScot Stock Down 1.8%

WSC stock opened at $27.42 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 3.56. The business has a 50 day moving average price of $26.88 and a two-hundred day moving average price of $30.81. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 304.70, a P/E/G ratio of 1.53 and a beta of 1.25. WillScot Holdings Corporation has a twelve month low of $21.91 and a twelve month high of $43.80.

WillScot (NASDAQ:WSC) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.04). The firm had revenue of $559.55 million for the quarter, compared to analyst estimates of $555.51 million. WillScot had a return on equity of 26.28% and a net margin of 0.63%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 earnings per share. Analysts anticipate that WillScot Holdings Corporation will post 1.77 EPS for the current fiscal year.

WillScot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.28 annualized dividend and a yield of 1.02%. WillScot’s dividend payout ratio is presently 311.11%.

Insider Buying and Selling at WillScot

In related news, CEO Bradley Lee Soultz acquired 10,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $26.79 per share, with a total value of $267,900.00. Following the acquisition, the chief executive officer now directly owns 128,817 shares of the company’s stock, valued at approximately $3,451,007.43. The trade was a 8.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

About WillScot

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.