Paloma Partners Management Co Buys 38,242 Shares of Custom Truck One Source, Inc. (NYSE:CTOS)

Paloma Partners Management Co increased its stake in Custom Truck One Source, Inc. (NYSE:CTOS) by 17.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 256,146 shares of the company’s stock after acquiring an additional 38,242 shares during the quarter. Paloma Partners Management Co owned about 0.11% of Custom Truck One Source worth $884,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CTOS. Vanguard Group Inc. increased its position in shares of Custom Truck One Source by 2.6% during the first 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 during the period. Price T Rowe Associates Inc. MD grew its holdings in Custom Truck One Source by 21.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,395 shares of the company’s stock worth $96,000 after acquiring an additional 2,882 shares during the period. Cetera Advisors LLC bought a new position in shares of Custom Truck One Source in the 1st quarter worth about $68,000. Sendero Wealth Management LLC lifted its stake in shares of Custom Truck One Source by 6.5% in the 2nd quarter. Sendero Wealth Management LLC now owns 162,800 shares of the company’s stock valued at $708,000 after purchasing an additional 10,000 shares during the period. Finally, First Merchants Corp bought a new stake in shares of Custom Truck One Source during the 2nd quarter valued at about $87,000. 90.07% of the stock is currently owned by institutional investors.

Custom Truck One Source Stock Down 3.2 %

CTOS stock opened at $5.79 on Tuesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28. Custom Truck One Source, Inc. has a fifty-two week low of $3.03 and a fifty-two week high of $7.00. The stock’s 50 day simple moving average is $4.16 and its 200 day simple moving average is $4.30. The company has a market cap of $1.35 billion, a P/E ratio of -36.44 and a beta of 0.61.

Custom Truck One Source (NYSE:CTOS) last issued its earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The firm had revenue of $447.22 million during the quarter, compared to the consensus estimate of $448.46 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. Custom Truck One Source’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts expect that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer dropped their price target on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.63.

Insider Activity

In related news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of Custom Truck One Source stock in a transaction that occurred 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 transaction, the insider now owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. The trade was a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.60% of the company’s stock.

Custom Truck One Source 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).