Melqart Asset Management UK Ltd Cuts Position in WillScot Holdings Corporation $WSC

Melqart Asset Management UK Ltd trimmed its stake in WillScot Holdings Corporation (NASDAQ:WSC) by 7.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 402,072 shares of the company’s stock after selling 32,946 shares during the quarter. Melqart Asset Management UK Ltd’s holdings in WillScot were worth $8,488,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. boosted its position in WillScot by 33.9% during the third quarter. Brown Brothers Harriman & Co. now owns 1,752,230 shares of the company’s stock valued at $36,990,000 after purchasing an additional 443,439 shares in the last quarter. Entropy Technologies LP bought a new position in WillScot in the third quarter worth about $1,012,000. Invesco Ltd. lifted its position in shares of WillScot by 22.5% during the third quarter. Invesco Ltd. now owns 2,834,634 shares of the company’s stock valued at $59,839,000 after buying an additional 520,867 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of WillScot by 4.4% in the 3rd quarter. Sei Investments Co. now owns 342,804 shares of the company’s stock valued at $7,237,000 after buying an additional 14,440 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of WillScot by 3.8% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,481,461 shares of the company’s stock valued at $52,384,000 after buying an additional 90,752 shares in the last quarter. Institutional investors own 95.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WSC. Morgan Stanley boosted their price objective on shares of WillScot from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Robert W. Baird reiterated a “neutral” rating and issued a $23.00 price target (up from $22.00) on shares of WillScot in a research note on Wednesday, January 21st. Zacks Research upgraded shares of WillScot from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WillScot in a report on Wednesday, January 21st. Finally, Citigroup dropped their price objective on shares of WillScot from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.50.

WillScot Stock Performance

WSC opened at $17.99 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 4.15. WillScot Holdings Corporation has a 12-month low of $14.91 and a 12-month high of $31.88. The firm has a 50 day moving average of $21.18 and a two-hundred day moving average of $21.00. The firm has a market capitalization of $3.25 billion, a PE ratio of -59.97, a P/E/G ratio of 1.37 and a beta of 1.08.

WillScot (NASDAQ:WSC) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). The business had revenue of $565.97 million during the quarter, compared to analysts’ expectations of $545.34 million. WillScot had a negative net margin of 2.32% and a positive return on equity of 20.42%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $0.48 earnings per share. On average, analysts anticipate that WillScot Holdings Corporation will post 1.77 EPS for the current year.

WillScot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, March 4th. WillScot’s dividend payout ratio (DPR) is currently -93.33%.

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.