Melqart Asset Management UK Ltd Sells 32,946 Shares of WillScot Holdings Corporation $WSC

Melqart Asset Management UK Ltd lowered its position in WillScot Holdings Corporation (NASDAQ:WSC) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 402,072 shares of the company’s stock after selling 32,946 shares during the quarter. Melqart Asset Management UK Ltd owned about 0.22% of WillScot worth $8,488,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WSC. Brown Brothers Harriman & Co. grew its holdings in WillScot by 33.9% during the 3rd 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 during the last quarter. Entropy Technologies LP bought a new stake in WillScot in the third quarter worth about $1,012,000. Invesco Ltd. boosted 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 period. Sei Investments Co. boosted its position in shares of WillScot by 4.4% during the third 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 during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of WillScot by 3.8% during the third 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 during the last quarter. Institutional investors own 95.81% of the company’s stock.

WillScot Stock Down 4.5%

NASDAQ:WSC opened at $17.99 on Friday. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.78. WillScot Holdings Corporation has a 1-year low of $14.91 and a 1-year high of $31.88. The company has a 50-day moving average of $21.18 and a 200 day moving average of $21.00. The firm has a market cap of $3.25 billion, a PE ratio of -59.97, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

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

WillScot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued 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 presently -93.33%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WSC. DA Davidson reduced their price target on WillScot from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Weiss Ratings restated a “sell (d+)” rating on shares of WillScot in a report on Wednesday, January 21st. Oppenheimer upped their target price on shares of WillScot from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Wall Street Zen lowered shares of WillScot from a “hold” rating to a “sell” rating in a research report on Monday, February 23rd. Finally, Barclays increased their price objective on WillScot from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, March 6th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.50.

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.