Empire Life Investments Inc. Sells 65,845 Shares of WillScot Holdings Corporation $WSC

Empire Life Investments Inc. lessened its holdings in WillScot Holdings Corporation (NASDAQ:WSC) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 447,503 shares of the company’s stock after selling 65,845 shares during the period. Empire Life Investments Inc.’s holdings in WillScot were worth $8,426,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in shares of WillScot by 22.9% in the third quarter. Nisa Investment Advisors LLC now owns 2,911 shares of the company’s stock worth $61,000 after purchasing an additional 543 shares during the period. CWM LLC increased its holdings in WillScot by 37.7% in the 4th quarter. CWM LLC now owns 2,071 shares of the company’s stock valued at $39,000 after buying an additional 567 shares during the period. Salomon & Ludwin LLC lifted its stake in WillScot by 117.3% during the fourth quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company’s stock worth $25,000 after purchasing an additional 679 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of WillScot by 0.4% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 185,701 shares of the company’s stock worth $5,092,000 after buying an additional 714 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of WillScot by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 103,421 shares of the company’s stock valued at $1,946,000 after purchasing an additional 929 shares in the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. DA Davidson lowered their target price on WillScot from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Oppenheimer reissued an “outperform” rating and issued a $29.00 price target on shares of WillScot in a research note on Friday. Barclays lifted their price objective on shares of WillScot from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, March 6th. Robert W. Baird set a $26.00 target price on WillScot in a research note on Friday. Finally, Morgan Stanley increased their price objective on shares of WillScot from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, WillScot has an average rating of “Hold” and an average price target of $25.63.

WillScot Stock Performance

WSC opened at $27.02 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 4.00. The business has a 50 day moving average of $20.06 and a 200-day moving average of $20.30. WillScot Holdings Corporation has a 12-month low of $14.91 and a 12-month high of $31.88. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of -71.11, a PEG ratio of 1.60 and a beta of 1.31.

WillScot (NASDAQ:WSC) last announced its earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. WillScot had a negative net margin of 2.99% and a positive return on equity of 20.65%. The business had revenue of $548.63 million during the quarter, compared to the consensus estimate of $518.17 million. During the same quarter in the previous year, the firm posted $0.26 EPS. WillScot’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that WillScot Holdings Corporation will post 1.09 earnings per share for the current year.

WillScot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, June 3rd. WillScot’s dividend payout ratio is presently -73.68%.

About WillScot

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.