William Blair Investment Management LLC Sells 2,667,864 Shares of WillScot Holdings Corporation $WSC

William Blair Investment Management LLC cut its stake in shares of WillScot Holdings Corporation (NASDAQ:WSC) by 50.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,649,427 shares of the company’s stock after selling 2,667,864 shares during the period. William Blair Investment Management LLC’s holdings in WillScot were worth $49,889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WSC. Salomon & Ludwin LLC increased its position in shares of WillScot by 117.3% during the fourth quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company’s stock valued at $25,000 after buying an additional 679 shares during the period. CWM LLC increased its position in shares of WillScot by 37.7% in the fourth quarter. CWM LLC now owns 2,071 shares of the company’s stock worth $39,000 after purchasing an additional 567 shares during the last quarter. Danske Bank A S bought a new position in shares of WillScot in the third quarter worth approximately $44,000. CIBC Private Wealth Group LLC increased its position in shares of WillScot by 130.3% in the third quarter. CIBC Private Wealth Group LLC now owns 2,766 shares of the company’s stock worth $58,000 after purchasing an additional 1,565 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of WillScot in the fourth quarter worth approximately $68,000. 95.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on WSC shares. Wall Street Zen upgraded shares of WillScot from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Citigroup upped their price objective on shares of WillScot from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. DA Davidson decreased their price objective on shares of WillScot from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. UBS Group started coverage on shares of WillScot in a research report on Wednesday, April 8th. They issued a “neutral” rating and a $19.00 price objective on the stock. Finally, Barclays upped their price objective on shares of WillScot from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, May 15th. Three 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.88.

Insider Transactions at WillScot

In other WillScot news, Director Bradley Lee Soultz sold 4,317 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $25.92, for a total value of $111,896.64. Following the completion of the sale, the director owned 414,059 shares of the company’s stock, valued at $10,732,409.28. This represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 155,781 shares of company stock valued at $4,205,113 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

WillScot Price Performance

Shares of WSC opened at $24.78 on Monday. The firm has a market cap of $4.48 billion, a P/E ratio of -65.21, a P/E/G ratio of 1.47 and a beta of 1.31. The stock has a 50 day simple moving average of $20.74 and a two-hundred day simple moving average of $20.44. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.79 and a quick ratio of 0.72. WillScot Holdings Corporation has a 1 year low of $14.91 and a 1 year high of $31.88.

WillScot (NASDAQ:WSC) last issued its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (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 analyst estimates of $518.17 million. WillScot had a positive return on equity of 20.65% and a negative net margin of 2.99%.WillScot’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. On average, analysts forecast that WillScot Holdings Corporation will post 1.1 earnings per share for the current fiscal year.

WillScot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 1.1%. WillScot’s dividend payout ratio is currently -73.68%.

WillScot Company Profile

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.