Bank of Nova Scotia Purchases New Position in WillScot Holdings Corporation $WSC

Bank of Nova Scotia bought a new position in shares of WillScot Holdings Corporation (NASDAQ:WSC) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 22,254 shares of the company’s stock, valued at approximately $386,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Xponance LLC boosted its stake in shares of WillScot by 3.5% in the fourth quarter. Xponance LLC now owns 14,245 shares of the company’s stock worth $268,000 after acquiring an additional 478 shares during the last quarter. CWM LLC grew its holdings in shares of WillScot by 37.7% in the fourth quarter. CWM LLC now owns 2,071 shares of the company’s stock valued at $39,000 after purchasing an additional 567 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of WillScot by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 41,604 shares of the company’s stock valued at $783,000 after buying an additional 600 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of WillScot by 117.3% in the 4th quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company’s stock valued at $25,000 after purchasing an additional 679 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in WillScot by 0.4% in the second quarter. CANADA LIFE ASSURANCE Co now owns 185,701 shares of the company’s stock valued at $5,092,000 after buying an additional 714 shares during the last quarter. 95.81% of the stock is owned by hedge funds and other institutional investors.

WillScot Stock Performance

NASDAQ WSC opened at $24.03 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 4.00. WillScot Holdings Corporation has a 52-week low of $14.91 and a 52-week high of $30.05. The business’s 50-day moving average price is $26.79 and its 200 day moving average price is $23.02. The firm has a market cap of $4.35 billion, a P/E ratio of -63.24, a P/E/G ratio of 1.43 and a beta of 1.32.

WillScot (NASDAQ:WSC) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The business had revenue of $548.63 million during 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 company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, equities research analysts expect that WillScot Holdings Corporation will post 1.1 earnings per share for the current year.

WillScot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were issued 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 1.2%. WillScot’s payout ratio is presently -73.68%.

Insider Activity

In other news, Director Bradley Lee Soultz sold 86,421 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were 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 in the company, valued at $5,333,089.05. The trade was a 30.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 155,781 shares of company stock worth $4,205,113 in the last quarter. Insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WSC. Barclays raised their price target on WillScot from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, May 15th. Morgan Stanley boosted their price target on shares of WillScot from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Wall Street Zen raised WillScot from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. UBS Group began coverage on shares of WillScot in a report on Wednesday, April 8th. They issued a “neutral” rating and a $19.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of WillScot in a research report on Wednesday, May 20th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $26.25.

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.