Norges Bank Takes Position in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Norges Bank bought a new position in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,921,789 shares of the company’s stock, valued at approximately $97,734,000. Norges Bank owned 1.58% of WillScot Mobile Mini at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van Berkom & Associates Inc. purchased a new stake in shares of WillScot Mobile Mini in the fourth quarter worth about $58,855,000. Douglas Lane & Associates LLC boosted its holdings in WillScot Mobile Mini by 379.1% in the 4th quarter. Douglas Lane & Associates LLC now owns 997,693 shares of the company’s stock worth $33,373,000 after acquiring an additional 789,445 shares during the period. Geneva Capital Management LLC acquired a new stake in WillScot Mobile Mini in the fourth quarter valued at approximately $23,194,000. William Blair Investment Management LLC raised its stake in shares of WillScot Mobile Mini by 13.6% during the fourth quarter. William Blair Investment Management LLC now owns 5,555,481 shares of the company’s stock valued at $185,831,000 after purchasing an additional 664,805 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of WillScot Mobile Mini during the third quarter worth $20,773,000. Institutional investors and hedge funds own 95.81% of the company’s stock.

WillScot Mobile Mini Stock Performance

Shares of WSC stock opened at $27.48 on Wednesday. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 183.21, a PEG ratio of 2.18 and a beta of 1.45. WillScot Mobile Mini Holdings Corp. has a one year low of $26.91 and a one year high of $45.41. The company’s 50-day simple moving average is $33.65 and its 200-day simple moving average is $35.68. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.82 and a current ratio of 0.90.

WillScot Mobile Mini (NASDAQ:WSC) last released its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. WillScot Mobile Mini had a return on equity of 24.67% and a net margin of 1.17%. The company had revenue of $602.52 million for the quarter, compared to the consensus estimate of $606.55 million. Equities analysts anticipate that WillScot Mobile Mini Holdings Corp. will post 1.77 earnings per share for the current fiscal year.

WillScot Mobile Mini Dividend Announcement

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

Wall Street Analyst Weigh In

WSC has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of WillScot Mobile Mini from $38.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Oppenheimer lowered their target price on WillScot Mobile Mini from $41.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Finally, Morgan Stanley upgraded WillScot Mobile Mini from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $50.00 in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.75.

Insider Activity

In related news, Director Erik Olsson sold 110,307 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $30.19, for a total value of $3,330,168.33. Following the sale, the director now owns 626,306 shares of the company’s stock, valued at approximately $18,908,178.14. This trade represents a 14.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Timothy D. Boswell acquired 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $29.14 per share, with a total value of $145,700.00. Following the completion of the purchase, the chief operating officer now owns 34,156 shares in the company, valued at $995,305.84. The trade was a 17.15 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.30% of the company’s stock.

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.