WillScot Holdings Corporation (NASDAQ:WSC) Stake Boosted by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in WillScot Holdings Corporation (NASDAQ:WSC) by 28.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,358 shares of the company’s stock after purchasing an additional 516 shares during the quarter. Fifth Third Bancorp’s holdings in WillScot were worth $66,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Franklin Resources Inc. increased its stake in WillScot by 34.4% in the 4th quarter. Franklin Resources Inc. now owns 10,314,494 shares of the company’s stock worth $345,020,000 after purchasing an additional 2,639,559 shares in the last quarter. William Blair Investment Management LLC increased its stake in WillScot by 13.6% in the 4th quarter. William Blair Investment Management LLC now owns 5,555,481 shares of the company’s stock worth $185,831,000 after purchasing an additional 664,805 shares in the last quarter. FMR LLC increased its stake in WillScot by 12.0% in the 4th quarter. FMR LLC now owns 5,554,101 shares of the company’s stock worth $185,785,000 after purchasing an additional 595,063 shares in the last quarter. Capital International Investors increased its stake in WillScot by 20.3% in the 4th quarter. Capital International Investors now owns 5,307,738 shares of the company’s stock worth $177,544,000 after purchasing an additional 897,184 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in WillScot by 4.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,832,316 shares of the company’s stock worth $161,641,000 after acquiring an additional 223,462 shares during the period. Hedge funds and other institutional investors own 95.81% of the company’s stock.

WillScot Stock Up 1.0%

Shares of WillScot stock opened at $26.21 on Friday. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 291.25, a P/E/G ratio of 1.42 and a beta of 1.25. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.83 and a quick ratio of 0.76. WillScot Holdings Corporation has a 52-week low of $21.91 and a 52-week high of $43.80. The stock has a 50-day simple moving average of $26.68 and a 200-day simple moving average of $31.05.

WillScot (NASDAQ:WSC) last announced its quarterly 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 firm had revenue of $559.55 million for the quarter, compared to analyst estimates of $555.51 million. WillScot had a net margin of 0.63% and a return on equity of 26.28%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 earnings per share. On average, equities research analysts expect that WillScot Holdings Corporation will post 1.77 earnings per share for the current fiscal year.

WillScot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Wednesday, June 4th. WillScot’s payout ratio is 311.11%.

Insider Activity at WillScot

In related news, CEO Bradley Lee Soultz acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $26.79 per share, with a total value of $267,900.00. Following the purchase, the chief executive officer now 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 accessible through the SEC website. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

WillScot 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.