The Manufacturers Life Insurance Company Trims Stock Position in Custom Truck One Source, Inc. (NYSE:CTOS)

The Manufacturers Life Insurance Company reduced its stake in shares of Custom Truck One Source, Inc. (NYSE:CTOS) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,174 shares of the company’s stock after selling 3,590 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Custom Truck One Source were worth $155,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Custom Truck One Source by 18.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,394 shares of the company’s stock valued at $94,000 after purchasing an additional 2,999 shares during the period. Barclays PLC grew its position in shares of Custom Truck One Source by 5.8% in the 4th quarter. Barclays PLC now owns 89,436 shares of the company’s stock worth $430,000 after buying an additional 4,910 shares during the period. Stoneridge Investment Partners LLC grew its position in shares of Custom Truck One Source by 22.0% in the 4th quarter. Stoneridge Investment Partners LLC now owns 30,335 shares of the company’s stock worth $146,000 after buying an additional 5,478 shares during the period. Nebula Research & Development LLC grew its position in shares of Custom Truck One Source by 15.9% in the 4th quarter. Nebula Research & Development LLC now owns 50,015 shares of the company’s stock worth $241,000 after buying an additional 6,848 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Custom Truck One Source in the 4th quarter worth about $39,000. 90.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Custom Truck One Source from $5.50 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird downgraded shares of Custom Truck One Source from an “outperform” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research report on Monday, April 28th. Oppenheimer upped their target price on shares of Custom Truck One Source from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, Baird R W downgraded shares of Custom Truck One Source from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.25.

Custom Truck One Source Stock Performance

Shares of Custom Truck One Source stock opened at $4.73 on Monday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -29.53 and a beta of 1.18. The firm’s 50-day moving average is $4.20 and its 200 day moving average is $4.72. Custom Truck One Source, Inc. has a 1 year low of $3.03 and a 1 year high of $6.11. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $422.23 million during the quarter, compared to the consensus estimate of $435.19 million. Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. Sell-side analysts anticipate that Custom Truck One Source, Inc. will post -0.21 EPS for the current fiscal year.

About Custom Truck One Source

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).