Portolan Capital Management LLC Invests $4.17 Million in Custom Truck One Source, Inc. $CTOS

Portolan Capital Management LLC acquired a new stake in shares of Custom Truck One Source, Inc. (NYSE:CTOS) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 649,076 shares of the company’s stock, valued at approximately $4,167,000. Portolan Capital Management LLC owned about 0.29% of Custom Truck One Source as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in CTOS. M&T Bank Corp raised its stake in shares of Custom Truck One Source by 7.6% in the 2nd quarter. M&T Bank Corp now owns 26,222 shares of the company’s stock valued at $130,000 after buying an additional 1,848 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Custom Truck One Source by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,448 shares of the company’s stock worth $185,000 after acquiring an additional 2,371 shares during the period. Stoneridge Investment Partners LLC boosted its position in shares of Custom Truck One Source by 8.2% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 32,813 shares of the company’s stock valued at $211,000 after acquiring an additional 2,478 shares in the last quarter. Legal & General Group Plc increased its stake in Custom Truck One Source by 4.6% in the third quarter. Legal & General Group Plc now owns 60,973 shares of the company’s stock valued at $391,000 after acquiring an additional 2,692 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Custom Truck One Source by 9.5% in the second quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company’s stock valued at $157,000 after acquiring an additional 2,773 shares during the period. Institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Stock Down 3.9%

Shares of NYSE:CTOS opened at $5.86 on Friday. Custom Truck One Source, Inc. has a 52 week low of $3.18 and a 52 week high of $7.75. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.22 and a current ratio of 1.33. The company’s fifty day moving average is $6.64 and its 200-day moving average is $6.26. The company has a market capitalization of $1.33 billion, a PE ratio of -39.03 and a beta of 1.14.

Custom Truck One Source (NYSE:CTOS) last posted its earnings results on Tuesday, March 10th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. Custom Truck One Source had a negative net margin of 1.60% and a negative return on equity of 3.88%. The business had revenue of $528.18 million for the quarter, compared to analyst estimates of $584.76 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities research analysts predict that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CTOS. Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, January 21st. DA Davidson reiterated a “buy” rating and issued a $8.50 price objective on shares of Custom Truck One Source in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on Custom Truck One Source from $6.50 to $6.00 and set an “underweight” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Custom Truck One Source currently has an average rating of “Hold” and a consensus price target of $7.40.

About Custom Truck One Source

Custom Truck One Source, Inc (NYSE: CTOS) is a North American provider of specialty rental equipment, parts and services. The company’s fleet encompasses a wide range of assets, including cranes, aerial work platforms, trench safety and shoring equipment, fluid management solutions, generators and other industrial machinery. Customers rely on Custom Truck One Source to support projects in construction, energy, telecommunications, industrial manufacturing, municipalities and large-scale events.

Headquartered in Plano, Texas, Custom Truck One Source has expanded through a combination of organic growth and strategic acquisitions to establish a network of more than 140 branch locations across the United States and Canada.