Victory Capital Management Inc. Boosts Stock Position in WillScot Holdings Corporation (NASDAQ:WSC)

Victory Capital Management Inc. raised its stake in shares of WillScot Holdings Corporation (NASDAQ:WSC) by 46.7% in the 1st quarter, Holdings Channel reports. The fund owned 32,603 shares of the company’s stock after acquiring an additional 10,384 shares during the quarter. Victory Capital Management Inc.’s holdings in WillScot were worth $906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WSC. Invesco Ltd. raised its stake in shares of WillScot by 747.1% during the 4th quarter. Invesco Ltd. now owns 1,820,316 shares of the company’s stock worth $60,890,000 after buying an additional 1,605,436 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of WillScot by 1,246.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,229,196 shares of the company’s stock worth $41,117,000 after buying an additional 1,137,890 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of WillScot by 8,012.5% during the 1st quarter. Principal Financial Group Inc. now owns 917,765 shares of the company’s stock worth $25,514,000 after buying an additional 906,452 shares in the last quarter. Capital International Investors raised its stake in shares of WillScot by 20.3% during the 4th quarter. Capital International Investors now owns 5,307,738 shares of the company’s stock worth $177,544,000 after buying an additional 897,184 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. raised its stake in shares of WillScot by 23.9% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 3,594,848 shares of the company’s stock worth $120,248,000 after buying an additional 693,243 shares in the last quarter. 95.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price 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 reissued a “market perform” rating on shares of WillScot in a research note on Thursday, May 29th. Finally, Barclays cut their target price on WillScot from $40.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, April 4th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.63.

WillScot Stock Performance

NASDAQ WSC opened at $29.35 on Friday. WillScot Holdings Corporation has a 1-year low of $21.91 and a 1-year high of $42.15. The company has a market capitalization of $5.35 billion, a P/E ratio of 326.15, a PEG ratio of 1.65 and a beta of 1.24. The business has a 50 day moving average price of $28.53 and a 200 day moving average price of $29.93. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.83 and a quick ratio of 0.76.

WillScot (NASDAQ:WSC) last announced its earnings results on Thursday, July 31st. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The company had revenue of $589.08 million for the quarter, compared to analyst estimates of $587.07 million. WillScot had a net margin of 0.63% and a return on equity of 26.28%. WillScot’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS. Sell-side analysts expect that WillScot Holdings Corporation will post 1.77 EPS for the current fiscal year.

WillScot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.0%. WillScot’s dividend payout ratio (DPR) is presently 311.11%.

Insiders Place Their Bets

In related news, Director Dominick P. Zarcone bought 10,000 shares of the stock in a transaction on Tuesday, June 17th. The shares were purchased at an average price of $26.19 per share, for a total transaction of $261,900.00. Following the acquisition, the director owned 15,384 shares in the company, valued at $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 the SEC website. Also, CEO Bradley Lee Soultz bought 10,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $26.79 per share, for a total transaction of $267,900.00. Following the acquisition, the chief executive officer owned 128,817 shares in the company, valued at $3,451,007.43. The trade was a 8.42% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by corporate insiders.

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.