Victory Capital Management Inc. Takes Position in Custom Truck One Source, Inc. (NYSE:CTOS)

Victory Capital Management Inc. purchased a new position in shares of Custom Truck One Source, Inc. (NYSE:CTOS) in the 2nd quarter, Holdings Channel reports. The fund purchased 10,781 shares of the company’s stock, valued at approximately $47,000.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Custom Truck One Source by 190.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock worth $21,466,000 after purchasing an additional 3,234,586 shares during the last quarter. Vanguard Group Inc. grew its holdings in Custom Truck One Source by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 3,191,740 shares of the company’s stock worth $18,576,000 after buying an additional 80,740 shares in the last quarter. Clearbridge Investments LLC increased its position in Custom Truck One Source by 2.1% in the 1st 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. Heartland Advisors Inc. bought a new stake in Custom Truck One Source during the 1st quarter valued at $2,456,000. Finally, GSA Capital Partners LLP boosted its position in Custom Truck One Source by 48.4% during the 1st quarter. GSA Capital Partners LLP now owns 285,810 shares of the company’s stock worth $1,663,000 after acquiring an additional 93,267 shares during the period. Institutional investors and hedge funds own 90.07% of the company’s stock.

Custom Truck One Source Trading Up 1.1 %

Shares of CTOS stock opened at $3.69 on Wednesday. The stock has a 50-day simple moving average of $4.23 and a 200 day simple moving average of $4.66. The stock has a market capitalization of $887.14 million, a P/E ratio of 36.90 and a beta of 0.63. Custom Truck One Source, Inc. has a fifty-two week low of $3.26 and a fifty-two week high of $7.00. The company has a quick ratio of 0.20, a current ratio of 1.30 and a debt-to-equity ratio of 1.78.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $423.00 million for the quarter, compared to the consensus estimate of $456.23 million. During the same quarter last year, the business posted $0.05 EPS. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, sell-side analysts expect that Custom Truck One Source, Inc. will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the completion of the sale, the insider now directly owns 23,384,879 shares of the company’s stock, valued at approximately $79,976,286.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Custom Truck One Source news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the sale, the insider now owns 23,384,879 shares in the company, valued at approximately $79,976,286.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas R. Rich bought 26,200 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $3.84 per share, with a total value of $100,608.00. Following the completion of the acquisition, the insider now owns 224,778 shares of the company’s stock, valued at $863,147.52. The disclosure for this purchase can be found here. 5.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

About Custom Truck One Source

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).