Granahan Investment Management LLC boosted its stake in WillScot Holdings Corporation (NASDAQ:WSC – Free Report) by 26.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,784 shares of the company’s stock after acquiring an additional 77,932 shares during the period. Granahan Investment Management LLC’s holdings in WillScot were worth $6,524,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its stake in WillScot by 334.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,522,450 shares of the company’s stock valued at $103,988,000 after buying an additional 4,250,951 shares in the last quarter. Turtle Creek Asset Management Inc. grew its position in shares of WillScot by 71.7% in the 3rd quarter. Turtle Creek Asset Management Inc. now owns 8,730,347 shares of the company’s stock worth $184,298,000 after acquiring an additional 3,645,350 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of WillScot by 210.9% in the 4th quarter. Primecap Management Co. CA now owns 4,267,400 shares of the company’s stock valued at $80,355,000 after acquiring an additional 2,894,900 shares during the last quarter. Norges Bank bought a new stake in shares of WillScot in the 4th quarter valued at approximately $40,925,000. Finally, Coliseum Capital Management LLC increased its holdings in shares of WillScot by 70.7% in the 4th quarter. Coliseum Capital Management LLC now owns 5,111,602 shares of the company’s stock valued at $96,251,000 after acquiring an additional 2,117,247 shares during the last quarter. Institutional investors own 95.81% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on WSC. Citigroup raised their price objective on WillScot from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. UBS Group initiated coverage on shares of WillScot in a report on Wednesday, April 8th. They set a “neutral” rating and a $19.00 target price on the stock. Morgan Stanley raised their price target on shares of WillScot from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Wall Street Zen raised shares of WillScot from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 price target on shares of WillScot in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.25.
WillScot Stock Performance
Shares of NASDAQ WSC opened at $26.50 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 4.00. The stock has a 50 day simple moving average of $26.67 and a 200-day simple moving average of $22.89. The company has a market cap of $4.79 billion, a PE ratio of -69.74, a P/E/G ratio of 1.60 and a beta of 1.32. WillScot Holdings Corporation has a 12-month low of $14.91 and a 12-month high of $31.88.
WillScot (NASDAQ:WSC – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $548.63 million for the quarter, compared to analysts’ expectations of $518.17 million. WillScot had a positive return on equity of 20.65% and a negative net margin of 2.99%.The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. On average, equities research analysts forecast that WillScot Holdings Corporation will post 1.1 EPS for the current year.
WillScot Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. WillScot’s dividend payout ratio is presently -73.68%.
Insider Activity
In other news, Director Bradley Lee Soultz sold 86,421 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $26.99, for a total transaction of $2,332,502.79. Following the transaction, the director directly owned 197,595 shares of the company’s stock, valued at approximately $5,333,089.05. This trade represents a 30.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 155,781 shares of company stock valued at $4,205,113 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.
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.
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