Assenagon Asset Management S.A. Buys New Position in WillScot Holdings Corporation $WSC

Assenagon Asset Management S.A. bought a new stake in WillScot Holdings Corporation (NASDAQ:WSC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 736,158 shares of the company’s stock, valued at approximately $13,862,000. Assenagon Asset Management S.A. owned about 0.40% of WillScot as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of WillScot by 24.6% in the first quarter. Royal Bank of Canada now owns 33,684 shares of the company’s stock worth $936,000 after acquiring an additional 6,651 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in WillScot by 1.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 724,638 shares of the company’s stock valued at $20,145,000 after purchasing an additional 8,963 shares during the last quarter. Creative Planning raised its stake in WillScot by 6.9% during the 2nd quarter. Creative Planning now owns 15,814 shares of the company’s stock valued at $433,000 after purchasing an additional 1,024 shares during the last quarter. Legal & General Group Plc boosted its holdings in WillScot by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 515,778 shares of the company’s stock valued at $14,132,000 after purchasing an additional 5,228 shares during the period. Finally, American Century Companies Inc. boosted its holdings in WillScot by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 46,781 shares of the company’s stock valued at $1,282,000 after purchasing an additional 1,374 shares during the period. 95.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WSC has been the topic of several research reports. Oppenheimer boosted their price objective on shares of WillScot from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Morgan Stanley lifted their target price on WillScot from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Barclays boosted their price target on WillScot from $18.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. Wall Street Zen cut WillScot from a “hold” rating to a “sell” rating in a report on Monday, February 23rd. Finally, Citigroup reduced their price objective on WillScot from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.50.

WillScot Stock Performance

WillScot stock opened at $18.45 on Friday. The firm has a market capitalization of $3.34 billion, a P/E ratio of -61.50, a P/E/G ratio of 1.35 and a beta of 1.08. The stock has a fifty day moving average price of $20.53 and a two-hundred day moving average price of $20.60. WillScot Holdings Corporation has a 52-week low of $14.91 and a 52-week high of $31.88. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.78.

WillScot (NASDAQ:WSC) last posted its earnings results on Thursday, February 19th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). WillScot had a positive return on equity of 20.42% and a negative net margin of 2.32%.The firm had revenue of $565.97 million during the quarter, compared to the consensus estimate of $545.34 million. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, analysts anticipate that WillScot Holdings Corporation will post 1.77 EPS for the current fiscal year.

WillScot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. WillScot’s dividend payout ratio (DPR) is presently -93.33%.

About WillScot

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.