Park Avenue Securities LLC Acquires 1,876 Shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Park Avenue Securities LLC lifted its stake in shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) by 17.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,904 shares of the company’s stock after buying an additional 1,876 shares during the quarter. Park Avenue Securities LLC’s holdings in WillScot Mobile Mini were worth $600,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of WSC. Ameriprise Financial Inc. increased its stake in WillScot Mobile Mini by 11.3% in the third quarter. Ameriprise Financial Inc. now owns 6,841,154 shares of the company’s stock valued at $284,523,000 after purchasing an additional 692,784 shares in the last quarter. Franklin Resources Inc. increased its position in WillScot Mobile Mini by 149.9% in the 4th quarter. Franklin Resources Inc. now owns 6,751,072 shares of the company’s stock valued at $300,423,000 after buying an additional 4,049,872 shares in the last quarter. Clearbridge Investments LLC raised its stake in WillScot Mobile Mini by 3.5% during the 4th quarter. Clearbridge Investments LLC now owns 5,807,486 shares of the company’s stock worth $258,433,000 after buying an additional 198,098 shares during the period. JPMorgan Chase & Co. boosted its holdings in WillScot Mobile Mini by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 4,002,566 shares of the company’s stock worth $166,467,000 after acquiring an additional 124,755 shares in the last quarter. Finally, Boston Partners acquired a new stake in WillScot Mobile Mini in the fourth quarter valued at approximately $145,583,000. Institutional investors and hedge funds own 95.81% of the company’s stock.

Insider Activity

In related news, CEO Bradley Lee Soultz purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $38.44 per share, with a total value of $192,200.00. Following the acquisition, the chief executive officer now owns 157,771 shares of the company’s stock, valued at approximately $6,064,717.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WSC. Robert W. Baird lowered their target price on WillScot Mobile Mini from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $53.00 price objective (down from $60.00) on shares of WillScot Mobile Mini in a research note on Monday, May 6th. Stifel Nicolaus decreased their target price on shares of WillScot Mobile Mini from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Jefferies Financial Group cut shares of WillScot Mobile Mini from a “buy” rating to a “hold” rating and dropped their price target for the company from $58.00 to $42.00 in a research report on Monday, April 1st. Finally, DA Davidson decreased their price objective on WillScot Mobile Mini from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, WillScot Mobile Mini has an average rating of “Moderate Buy” and a consensus price target of $51.00.

WillScot Mobile Mini Stock Performance

WSC stock opened at $37.95 on Friday. The business has a 50 day moving average of $38.87 and a 200-day moving average of $43.14. The firm has a market cap of $7.22 billion, a PE ratio of 23.43, a P/E/G ratio of 1.10 and a beta of 1.40. WillScot Mobile Mini Holdings Corp. has a 12-month low of $34.40 and a 12-month high of $52.16. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 2.63.

WillScot Mobile Mini (NASDAQ:WSC) last released its earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The business had revenue of $587.18 million for the quarter, compared to the consensus estimate of $579.98 million. WillScot Mobile Mini had a return on equity of 24.14% and a net margin of 13.48%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 earnings per share. As a group, sell-side analysts expect that WillScot Mobile Mini Holdings Corp. will post 1.85 earnings per share for the current year.

WillScot Mobile Mini Company Profile

WillScot Mobile Mini Holdings Corp. provides workspace and portable storage solutions in the United States, Canada, and Mexico. It operates in two segments, Modular Solutions and Storage Solutions. Its modular solutions include panelized and stackable offices, single-wide modular space units, section modulars and redi-plex, classrooms, ground level offices, blast-resistant modules, clearspan structures, and other modular space; and portable storage solutions, such as portable and cold storage containers, as well as trailers.