Custom Truck One Source, Inc. (NYSE:CTOS) Major Shareholder Sells $8,051,052.78 in Stock

Custom Truck One Source, Inc. (NYSE:CTOS) major shareholder Ecp Controlco, Llc sold 2,354,109 shares of Custom Truck One Source stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $3.42, for a total value of $8,051,052.78. Following the sale, the insider now directly owns 23,384,879 shares in the company, valued at $79,976,286.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Custom Truck One Source Stock Up 1.0 %

NYSE:CTOS opened at $3.43 on Wednesday. The company has a market capitalization of $823.43 million, a price-to-earnings ratio of 34.25 and a beta of 0.63. Custom Truck One Source, Inc. has a one year low of $3.33 and a one year high of $7.00. The stock has a 50-day simple moving average of $4.36 and a 200 day simple moving average of $4.84. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.20 and a current ratio of 1.30.

Custom Truck One Source (NYSE:CTOS) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). Custom Truck One Source had a negative net margin of 0.75% and a negative return on equity of 1.51%. The company had revenue of $423.00 million during the quarter, compared to analyst estimates of $456.23 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business’s revenue was down 7.4% on a year-over-year basis. Sell-side analysts predict that Custom Truck One Source, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTOS. Stifel Nicolaus began coverage on Custom Truck One Source in a research report on Friday, June 14th. They set a “hold” rating and a $5.50 target price on the stock. Oppenheimer decreased their price target on Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price target on Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Custom Truck One Source has a consensus rating of “Moderate Buy” and an average price target of $6.30.

Hedge Funds Weigh In On Custom Truck One Source

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its stake in Custom Truck One Source by 190.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock valued at $21,466,000 after acquiring an additional 3,234,586 shares during the period. Vanguard Group Inc. boosted its stake in Custom Truck One Source by 2.6% in the first quarter. Vanguard Group Inc. now owns 3,191,740 shares of the company’s stock valued at $18,576,000 after acquiring an additional 80,740 shares during the period. Dimensional Fund Advisors LP boosted its stake in Custom Truck One Source by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock valued at $9,770,000 after acquiring an additional 410,895 shares during the period. Clearbridge Investments LLC boosted its stake in Custom Truck One Source by 2.1% in the first quarter. Clearbridge Investments LLC now owns 1,917,468 shares of the company’s stock valued at $11,160,000 after acquiring an additional 38,575 shares during the period. Finally, Maven Securities LTD acquired a new position in Custom Truck One Source in the second quarter valued at approximately $2,175,000. 90.07% of the stock is currently owned by institutional investors and hedge funds.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).