Shares of WillScot Holdings Corporation (NASDAQ: WSC) have received a consensus recommendation of “Hold” from the ten brokerages covering the company, as reported by Marketbeat Ratings. This guidance follows a mixture of ratings: one analyst recommends selling, five suggest holding, and four advocate buying the stock. The average price target among these analysts stands at $30.89 for the next twelve months.
Recent evaluations have led some firms to revise their target prices significantly. Jefferies Financial Group reduced its target from $32.00 to $23.00 while maintaining a “hold” rating. Similarly, Barclays lowered its target from $34.00 to $22.00, categorizing the stock as “equal weight.” Robert W. Baird also adjusted its target, cutting it from $29.00 to $25.00 with a “neutral” rating. Conversely, Citigroup initiated coverage on WillScot with a “buy” rating and a target price of $28.00.
Company Financial Performance and Dividend Announcement
WillScot’s most recent earnings report, released on July 31, 2023, revealed a 0.27 EPS for the quarter, which fell short of analysts’ expectations of $0.36 by $0.09. The company’s revenue reached $589.08 million, slightly above the anticipated $587.07 million. Year-over-year comparisons show a 2.6% decline in revenue, with earnings per share decreasing from $0.39 in the same quarter of the previous year.
For the fiscal year 2025, WillScot has set guidance at an EPS of $1.77, indicating a focus on recovering from recent performance dips.
In addition to its financial results, WillScot announced a quarterly dividend of $0.07, which was paid on September 17, 2023. Shareholders recorded on September 3, 2023 received this dividend, which represents an annualized amount of $0.28 and a yield of 1.2%. The company’s dividend payout ratio stands at 46.67%.
Insider Trading and Institutional Investments
In related news, Hezron T. Lopez, Executive Vice President, sold 22,000 shares on August 19, 2023, at an average price of $24.63, totaling approximately $541,860. Following this transaction, Lopez retained 54,038 shares, valued at around $1,330,955.94.
Conversely, Bradley Lee Soultz, the CEO, purchased 2,000 shares on August 5, 2023, for about $49,700. This acquisition reflects a minor increase in his holdings, now totaling 418,376 shares, worth approximately $10,396,643.60.
Institutional investors have shown significant interest in WillScot, with hedge funds increasing their stakes. Notably, Baillie Gifford & Co. acquired a new position valued at approximately $145.39 million in the first quarter, while Norges Bank purchased a new stake worth about $125.13 million during the second quarter.
Additionally, Vanguard Group Inc. raised its holdings by 11.7%, owning 18,338,511 shares, valued at $509.81 million after acquiring 1,924,653 shares in the last quarter. Overall, institutional investors control 95.81% of WillScot’s shares, showcasing strong institutional confidence in the company.
WillScot Holdings Corporation specializes in providing workspace and portable storage solutions across the United States, Canada, and Mexico. Operating in two segments, Modular Solutions and Storage Solutions, the company offers a variety of modular units and portable storage options tailored to diverse customer needs.
