Redmond Asset Management LLC Sells 90,000 Shares of WillScot Holdings Corporation $WSC

Redmond Asset Management LLC decreased its holdings in WillScot Holdings Corporation (NASDAQ:WSC) by 66.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,415 shares of the company’s stock after selling 90,000 shares during the quarter. Redmond Asset Management LLC’s holdings in WillScot were worth $780,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Turtle Creek Asset Management Inc. increased its holdings in WillScot by 27.3% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company’s stock worth $136,624,000 after purchasing an additional 1,686,077 shares in the last quarter. Nykredit A S purchased a new stake in shares of WillScot in the second quarter worth approximately $75,934,000. Dimensional Fund Advisors LP lifted its holdings in shares of WillScot by 10.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,110,002 shares of the company’s stock valued at $71,339,000 after purchasing an additional 404,469 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of WillScot in the second quarter valued at approximately $38,500,000. Finally, Douglas Lane & Associates LLC lifted its holdings in shares of WillScot by 5.4% in the third quarter. Douglas Lane & Associates LLC now owns 1,811,269 shares of the company’s stock valued at $31,118,000 after purchasing an additional 92,065 shares in the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of WillScot in a research report on Monday, August 17th. Robert W. Baird cut their price objective on shares of WillScot from $28.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Citigroup cut their price objective on shares of WillScot from $30.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Barclays upped their target price on shares of WillScot from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Finally, UBS Group lowered their target price on shares of WillScot from $29.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 16th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.86.

WillScot Price Performance

Shares of NASDAQ WSC opened at $17.98 on Thursday. The company has a market capitalization of $3.26 billion, a PE ratio of -47.32, a PEG ratio of 0.94 and a beta of 1.40. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.80. The stock’s 50 day moving average price is $18.40 and its 200-day moving average price is $21.92. WillScot Holdings Corporation has a twelve month low of $14.91 and a twelve month high of $29.77.

WillScot (NASDAQ:WSC) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $612.15 million during the quarter, compared to the consensus estimate of $585.43 million. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%. WillScot’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. On average, equities analysts anticipate that WillScot Holdings Corporation will post 1.13 EPS for the current year.

WillScot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, September 2nd. WillScot’s dividend payout ratio is -73.68%.

About WillScot

WillScot Holdings Corporation (NASDAQ: WSC) provides flexible workspace and storage solutions primarily to customers across North America. The company offers modular buildings, mobile offices, portable classrooms, storage units and other temporary or permanent space solutions for businesses, schools, construction sites, health care organizations, government agencies and other institutions.

In addition to renting and selling modular space and portable storage products, WillScot provides related services such as delivery, installation, relocation, site improvements, furnishings and facility services.