Bank of New York Mellon Corp Purchases 425,850 Shares of WillScot Holdings Corporation (NASDAQ:WSC)

Bank of New York Mellon Corp lifted its position in shares of WillScot Holdings Corporation (NASDAQ:WSC) by 59.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,141,856 shares of the company’s stock after purchasing an additional 425,850 shares during the quarter. Bank of New York Mellon Corp owned about 0.62% of WillScot worth $31,744,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sciencast Management LP boosted its holdings in WillScot by 0.9% in the fourth quarter. Sciencast Management LP now owns 56,961 shares of the company’s stock worth $1,905,000 after acquiring an additional 491 shares in the last quarter. Fifth Third Bancorp boosted its holdings in WillScot by 28.0% in the first quarter. Fifth Third Bancorp now owns 2,358 shares of the company’s stock worth $66,000 after acquiring an additional 516 shares in the last quarter. GAMMA Investing LLC boosted its holdings in WillScot by 273.2% in the first quarter. GAMMA Investing LLC now owns 933 shares of the company’s stock worth $26,000 after acquiring an additional 683 shares in the last quarter. State of Wyoming bought a new stake in WillScot in the fourth quarter worth $34,000. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in WillScot by 0.3% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 344,914 shares of the company’s stock worth $11,537,000 after acquiring an additional 1,070 shares in the last quarter. 95.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Dominick P. Zarcone acquired 10,000 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was bought at an average cost of $26.19 per share, for a total transaction of $261,900.00. Following the purchase, the director owned 15,384 shares in the company, valued at approximately $402,906.96. This represents a 185.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Bradley Lee Soultz purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $26.79 per share, with a total value of $267,900.00. Following the completion of the transaction, the chief executive officer directly owned 128,817 shares of the company’s stock, valued at approximately $3,451,007.43. This represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on WillScot from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. William Blair restated a “market perform” rating on shares of WillScot in a research note on Thursday, May 29th. Finally, Barclays reduced 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. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, WillScot currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.63.

WillScot Trading Down 1.7%

WSC opened at $29.63 on Wednesday. The stock’s fifty day moving average is $28.06 and its two-hundred day moving average is $30.20. The company has a market capitalization of $5.40 billion, a P/E ratio of 329.26, a PEG ratio of 1.65 and a beta of 1.24. WillScot Holdings Corporation has a 52 week low of $21.91 and a 52 week high of $43.80. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 3.56.

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 analysts’ consensus estimates of $0.28 by ($0.04). WillScot had a net margin of 0.63% and a return on equity of 26.28%. The company had revenue of $559.55 million during the quarter, compared to analysts’ expectations of $555.51 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year. Analysts forecast that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.07 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $0.28 annualized dividend and a dividend yield of 0.94%. 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.