Sumitomo Life Insurance Co. Raises Stake in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Sumitomo Life Insurance Co. increased its position in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSCFree Report) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,107 shares of the company’s stock after buying an additional 824 shares during the period. Sumitomo Life Insurance Co.’s holdings in WillScot Mobile Mini were worth $1,658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WSC. Swedbank AB lifted its position in WillScot Mobile Mini by 229.2% during the third quarter. Swedbank AB now owns 3,226,000 shares of the company’s stock worth $121,298,000 after buying an additional 2,246,000 shares during the period. Douglas Lane & Associates LLC purchased a new position in shares of WillScot Mobile Mini during the 3rd quarter worth about $7,830,000. Reinhart Partners LLC. boosted its position in shares of WillScot Mobile Mini by 19.0% in the third quarter. Reinhart Partners LLC. now owns 281,585 shares of the company’s stock worth $10,588,000 after acquiring an additional 45,002 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in WillScot Mobile Mini by 200.0% in the third quarter. Hexagon Capital Partners LLC now owns 900 shares of the company’s stock valued at $34,000 after purchasing an additional 600 shares during the period. Finally, Salvus Wealth Management LLC grew its holdings in WillScot Mobile Mini by 1.0% in the third quarter. Salvus Wealth Management LLC now owns 47,830 shares of the company’s stock valued at $1,798,000 after purchasing an additional 485 shares during the period. Hedge funds and other institutional investors own 95.81% of the company’s stock.

WillScot Mobile Mini Trading Up 2.8 %

NASDAQ:WSC opened at $37.29 on Thursday. WillScot Mobile Mini Holdings Corp. has a one year low of $33.23 and a one year high of $52.16. The business’s 50-day simple moving average is $37.58 and its 200 day simple moving average is $38.68. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 1.17 and a beta of 1.35.

WillScot Mobile Mini (NASDAQ:WSCGet Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). WillScot Mobile Mini had a net margin of 7.77% and a return on equity of 24.27%. The business had revenue of $604.59 million during the quarter, compared to analyst estimates of $614.85 million. During the same period in the previous year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, sell-side analysts predict that WillScot Mobile Mini Holdings Corp. will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at WillScot Mobile Mini

In other news, CEO Bradley Lee Soultz acquired 5,000 shares of WillScot Mobile Mini stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased at an average cost of $38.97 per share, for a total transaction of $194,850.00. Following the completion of the purchase, the chief executive officer now directly owns 149,686 shares of the company’s stock, valued at $5,833,263.42. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WSC. Barclays downgraded shares of WillScot Mobile Mini from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $50.00 to $44.00 in a research note on Thursday, September 19th. Stifel Nicolaus reduced their target price on WillScot Mobile Mini from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Oppenheimer dropped their price target on WillScot Mobile Mini from $53.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. DA Davidson cut their price objective on WillScot Mobile Mini from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Bank of America decreased their target price on WillScot Mobile Mini from $56.00 to $54.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.90.

Get Our Latest Stock Report on WSC

WillScot Mobile Mini Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for WillScot Mobile Mini (NASDAQ:WSC)

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