Norges Bank Buys New Stake in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Norges Bank purchased a new position in shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) in the fourth quarter, Holdings Channel reports. The fund purchased 2,921,789 shares of the company’s stock, valued at approximately $97,734,000.

Several other institutional investors and hedge funds also recently modified their holdings of WSC. Pier Capital LLC boosted its holdings in shares of WillScot Mobile Mini by 1.9% in the fourth quarter. Pier Capital LLC now owns 229,753 shares of the company’s stock valued at $7,685,000 after acquiring an additional 4,378 shares in the last quarter. Advantage Alpha Capital Partners LP boosted its stake in WillScot Mobile Mini by 21.0% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 220,193 shares of the company’s stock valued at $7,365,000 after purchasing an additional 38,287 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of WillScot Mobile Mini during the 4th quarter valued at $612,000. KLP Kapitalforvaltning AS bought a new stake in shares of WillScot Mobile Mini in the 4th quarter worth $1,290,000. Finally, Sciencast Management LP lifted its holdings in shares of WillScot Mobile Mini by 0.9% in the fourth quarter. Sciencast Management LP now owns 56,961 shares of the company’s stock valued at $1,905,000 after buying an additional 491 shares during the period. Institutional investors own 95.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on WSC. Robert W. Baird dropped their price target on shares of WillScot Mobile Mini from $38.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Morgan Stanley raised shares of WillScot Mobile Mini from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.00 to $50.00 in a research note on Tuesday, December 17th. Finally, Oppenheimer decreased their price target on shares of WillScot Mobile Mini from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

WillScot Mobile Mini Stock Performance

WillScot Mobile Mini stock opened at $27.48 on Wednesday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.90 and a quick ratio of 0.82. The company has a market cap of $5.04 billion, a P/E ratio of 183.21, a price-to-earnings-growth ratio of 2.18 and a beta of 1.45. WillScot Mobile Mini Holdings Corp. has a fifty-two week low of $26.91 and a fifty-two week high of $45.41. The firm’s 50 day simple moving average is $33.65 and its 200-day simple moving average is $35.68.

WillScot Mobile Mini (NASDAQ:WSC) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $602.52 million during the quarter, compared to the consensus estimate of $606.55 million. WillScot Mobile Mini had a return on equity of 24.67% and a net margin of 1.17%. As a group, equities research analysts predict that WillScot Mobile Mini Holdings Corp. will post 1.77 EPS for the current year.

WillScot Mobile Mini Dividend Announcement

The firm also recently announced a — dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. WillScot Mobile Mini’s dividend payout ratio is 186.67%.

Insider Buying and Selling

In other news, COO Timothy D. Boswell acquired 5,000 shares of WillScot Mobile Mini stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $29.14 per share, for a total transaction of $145,700.00. Following the completion of the purchase, the chief operating officer now owns 34,156 shares of the company’s stock, valued at $995,305.84. This represents a 17.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Erik Olsson sold 110,307 shares of WillScot Mobile Mini stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $30.19, for a total transaction of $3,330,168.33. Following the completion of the transaction, the director now owns 626,306 shares in the company, valued at $18,908,178.14. This trade represents a 14.97 % decrease in their position. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by corporate insiders.

WillScot Mobile Mini Profile

WillScot Holdings Corporation 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.