Broad Bay Capital Management LP Grows Position in WillScot Holdings Corporation $WSC

Broad Bay Capital Management LP increased its holdings in shares of WillScot Holdings Corporation (NASDAQ:WSC) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,926,233 shares of the company’s stock after purchasing an additional 53,408 shares during the period. WillScot makes up approximately 6.2% of Broad Bay Capital Management LP’s holdings, making the stock its 4th largest position. Broad Bay Capital Management LP’s holdings in WillScot were worth $52,779,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in WillScot by 11.7% during the first quarter. Vanguard Group Inc. now owns 18,338,511 shares of the company’s stock worth $509,811,000 after purchasing an additional 1,924,653 shares during the period. Charles Schwab Investment Management Inc. raised its position in WillScot by 11.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,751,798 shares of the company’s stock valued at $48,700,000 after purchasing an additional 182,963 shares during the last quarter. Deutsche Bank AG boosted its stake in WillScot by 22.1% in the first quarter. Deutsche Bank AG now owns 13,793 shares of the company’s stock worth $383,000 after purchasing an additional 2,497 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of WillScot by 598.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,024 shares of the company’s stock worth $1,724,000 after purchasing an additional 53,141 shares during the last quarter. Finally, Benjamin Edwards Inc. acquired a new stake in shares of WillScot in the first quarter valued at $242,000. 95.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

WSC has been the topic of several research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of WillScot in a research report on Wednesday, October 8th. UBS Group set a $35.00 price target on shares of WillScot in a research note on Tuesday, September 30th. Jefferies Financial Group dropped their price objective on shares of WillScot from $32.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, September 29th. Barclays lowered their target price on WillScot from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Finally, Wall Street Zen downgraded WillScot from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.13.

WillScot Price Performance

WSC opened at $20.83 on Wednesday. The company has a fifty day moving average price of $20.32 and a two-hundred day moving average price of $24.15. The firm has a market capitalization of $3.79 billion, a PE ratio of 17.21, a P/E/G ratio of 1.86 and a beta of 1.12. WillScot Holdings Corporation has a 52 week low of $14.91 and a 52 week high of $39.60. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.72 and a current ratio of 0.79.

WillScot (NASDAQ:WSC) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. The business had revenue of $566.84 million for the quarter, compared to analyst estimates of $583.52 million. WillScot had a return on equity of 23.09% and a net margin of 9.64%.The firm’s revenue was down 5.8% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. As a group, analysts anticipate that WillScot Holdings Corporation will post 1.77 earnings per share for the current year.

WillScot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. WillScot’s dividend payout ratio is 23.14%.

About WillScot

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.