Bessemer Group Inc. Sells 1,833,807 Shares of WillScot Holdings Corporation (NASDAQ:WSC)

Bessemer Group Inc. lowered its holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC) by 49.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,852,609 shares of the company’s stock after selling 1,833,807 shares during the quarter. Bessemer Group Inc.’s holdings in WillScot were worth $51,502,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Sanctuary Advisors LLC boosted its stake in shares of WillScot by 13.5% during the fourth quarter. Sanctuary Advisors LLC now owns 18,575 shares of the company’s stock valued at $687,000 after purchasing an additional 2,206 shares during the period. Handelsbanken Fonder AB boosted its position in WillScot by 18.7% in the 4th quarter. Handelsbanken Fonder AB now owns 45,773 shares of the company’s stock valued at $1,531,000 after buying an additional 7,200 shares during the period. Bank of New York Mellon Corp grew its stake in WillScot by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 716,006 shares of the company’s stock worth $23,950,000 after acquiring an additional 18,087 shares in the last quarter. FourThought Financial Partners LLC bought a new position in WillScot in the 4th quarter worth about $216,000. Finally, New York Life Investment Management LLC purchased a new position in shares of WillScot during the fourth quarter worth approximately $679,000. Institutional investors own 95.81% of the company’s stock.

Insider Buying and Selling

In other WillScot news, Director Dominick P. Zarcone bought 10,000 shares of WillScot stock in a transaction that occurred on Tuesday, June 17th. The shares were bought at an average cost of $26.19 per share, with a total value of $261,900.00. Following the transaction, the director now directly owns 15,384 shares of the company’s stock, valued at approximately $402,906.96. This represents a 185.74% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WSC. Robert W. Baird lowered their price target on WillScot from $38.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 10th. William Blair reaffirmed a “market perform” rating on shares of WillScot in a research report on Thursday, May 29th. Oppenheimer lowered their target price on WillScot from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Morgan Stanley raised their price target on WillScot from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Finally, Barclays lowered their price objective on shares of WillScot from $40.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, April 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.63.

WillScot Trading Down 1.8%

Shares of NASDAQ:WSC opened at $27.42 on Thursday. The company has a market capitalization of $5.00 billion, a PE ratio of 304.70, a P/E/G ratio of 1.53 and a beta of 1.25. The company has a current ratio of 0.83, a quick ratio of 0.76 and a debt-to-equity ratio of 3.56. WillScot Holdings Corporation has a 12-month low of $21.91 and a 12-month high of $43.80. The business’s fifty day simple moving average is $26.88 and its 200-day simple moving average is $30.81.

WillScot (NASDAQ:WSC) last posted its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). The company had revenue of $559.55 million during the quarter, compared to analysts’ expectations of $555.51 million. WillScot had a net margin of 0.63% and a return on equity of 26.28%. WillScot’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. As a group, equities research analysts predict that WillScot Holdings Corporation will post 1.77 earnings per share for the current fiscal year.

WillScot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, June 4th. This represents a $0.28 annualized dividend and a dividend yield of 1.02%. WillScot’s dividend payout ratio (DPR) is presently 311.11%.

WillScot 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.