Madison Asset Management LLC Reduces Stock Position in WillScot Holdings Corporation $WSC

Madison Asset Management LLC reduced its stake in WillScot Holdings Corporation (NASDAQ:WSC) by 50.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,705 shares of the company’s stock after selling 47,129 shares during the period. Madison Asset Management LLC’s holdings in WillScot were worth $793,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Turtle Creek Asset Management Inc. lifted its holdings in WillScot by 71.7% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 8,730,347 shares of the company’s stock worth $184,298,000 after purchasing an additional 3,645,350 shares in the last quarter. State Street Corp increased its position in shares of WillScot by 1.4% during the fourth quarter. State Street Corp now owns 5,774,998 shares of the company’s stock valued at $108,743,000 after buying an additional 80,713 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of WillScot by 334.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,522,450 shares of the company’s stock valued at $103,988,000 after buying an additional 4,250,951 shares during the period. Capital International Investors lifted its holdings in shares of WillScot by 10.8% in the fourth quarter. Capital International Investors now owns 5,489,528 shares of the company’s stock worth $103,368,000 after buying an additional 536,511 shares in the last quarter. Finally, Coliseum Capital Management LLC lifted its holdings in shares of WillScot by 70.7% in the fourth quarter. Coliseum Capital Management LLC now owns 5,111,602 shares of the company’s stock worth $96,251,000 after buying an additional 2,117,247 shares in the last quarter. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

WillScot Stock Down 0.6%

Shares of NASDAQ WSC opened at $26.37 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 4.00. The business has a 50-day moving average of $26.62 and a 200-day moving average of $22.81. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of -69.39, a PEG ratio of 1.58 and a beta of 1.32. WillScot Holdings Corporation has a 12 month low of $14.91 and a 12 month high of $31.88.

WillScot (NASDAQ:WSC) last announced its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. WillScot had a negative net margin of 2.99% and a positive return on equity of 20.65%. The business had revenue of $548.63 million during the quarter, compared to analyst estimates of $518.17 million. During the same period in the previous year, the business posted $0.26 earnings per share. WillScot’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts expect that WillScot Holdings Corporation will post 1.1 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 17th. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, June 3rd. WillScot’s payout ratio is currently -73.68%.

Insider Activity

In related news, Director Bradley Lee Soultz sold 4,317 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $25.92, for a total value of $111,896.64. Following the completion of the transaction, the director directly owned 414,059 shares in the company, valued at approximately $10,732,409.28. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 155,781 shares of company stock worth $4,205,113. Insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on WSC. Barclays boosted their price objective on shares of WillScot from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Citigroup increased their target price on shares of WillScot from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Morgan Stanley raised their price target on shares of WillScot from $23.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Robert W. Baird set a $26.00 price target on shares of WillScot in a research report on Friday, May 8th. Finally, Wall Street Zen raised shares of WillScot from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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.