Fifth Third Bancorp Grows Stake in WillScot Holdings Corporation $WSC

Fifth Third Bancorp increased its position in WillScot Holdings Corporation (NASDAQ:WSC) by 8,906.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,563 shares of the company’s stock after acquiring an additional 141,969 shares during the period. Fifth Third Bancorp’s holdings in WillScot were worth $2,492,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in shares of WillScot in the 4th quarter worth approximately $757,000. Hsbc Holdings PLC grew its position in WillScot by 494.6% during the fourth quarter. Hsbc Holdings PLC now owns 56,917 shares of the company’s stock valued at $1,073,000 after buying an additional 47,344 shares during the period. Mraz Amerine & Associates Inc. grew its position in WillScot by 65.7% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 108,217 shares of the company’s stock valued at $2,038,000 after buying an additional 42,915 shares during the period. Clearline Capital LP increased its holdings in WillScot by 79.4% during the fourth quarter. Clearline Capital LP now owns 160,940 shares of the company’s stock valued at $3,030,000 after buying an additional 71,251 shares during the last quarter. Finally, Van Berkom & Associates Inc. increased its holdings in WillScot by 4.0% during the fourth quarter. Van Berkom & Associates Inc. now owns 3,176,865 shares of the company’s stock valued at $59,820,000 after buying an additional 122,229 shares during the last quarter. Hedge funds and other institutional investors own 95.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WSC. UBS Group initiated coverage on shares of WillScot in a research note on Wednesday, April 8th. They set a “neutral” rating and a $19.00 price target on the stock. Barclays upped their price objective on WillScot from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, May 15th. Wall Street Zen raised WillScot from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup lifted their target price on WillScot from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $29.00 price target on shares of WillScot in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.25.

WillScot Price Performance

Shares of NASDAQ:WSC opened at $26.52 on Wednesday. The company has a market capitalization of $4.80 billion, a P/E ratio of -69.79, a P/E/G ratio of 1.55 and a beta of 1.32. WillScot Holdings Corporation has a 1-year low of $14.91 and a 1-year high of $31.88. The firm’s 50 day simple moving average is $26.61 and its two-hundred day simple moving average is $22.76. 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 (NASDAQ:WSC) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $548.63 million during the quarter, compared to analysts’ expectations of $518.17 million. WillScot had a negative net margin of 2.99% and a positive return on equity of 20.65%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 earnings per share. Research analysts expect that WillScot Holdings Corporation will post 1.1 EPS for the current fiscal year.

WillScot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were issued a $0.07 dividend. The ex-dividend date of this dividend was 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%.

Insider Transactions at WillScot

In other WillScot news, Director Bradley Lee Soultz sold 4,317 shares of the stock in a transaction 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 in the company, valued at approximately $10,732,409.28. This represents a 1.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 155,781 shares of company stock valued at $4,205,113. Corporate insiders own 3.40% of the company’s stock.

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.