Envestnet Asset Management Inc. Acquires 50,414 Shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Envestnet Asset Management Inc. increased its holdings in shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) by 12.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 454,636 shares of the company’s stock after buying an additional 50,414 shares during the quarter. Envestnet Asset Management Inc.’s holdings in WillScot Mobile Mini were worth $17,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WSC. William Blair Investment Management LLC increased its holdings in WillScot Mobile Mini by 102.9% in the 2nd quarter. William Blair Investment Management LLC now owns 4,643,901 shares of the company’s stock worth $174,796,000 after purchasing an additional 2,355,445 shares in the last quarter. Boston Partners increased its holdings in WillScot Mobile Mini by 66.0% in the 1st quarter. Boston Partners now owns 5,434,288 shares of the company’s stock worth $251,118,000 after purchasing an additional 2,159,958 shares in the last quarter. Capital Research Global Investors increased its holdings in WillScot Mobile Mini by 112.0% in the 1st quarter. Capital Research Global Investors now owns 3,906,011 shares of the company’s stock worth $181,630,000 after purchasing an additional 2,063,746 shares in the last quarter. Jackson Square Partners LLC acquired a new position in WillScot Mobile Mini in the 1st quarter worth about $55,507,000. Finally, Swedbank AB acquired a new position in WillScot Mobile Mini in the 1st quarter worth about $39,386,000. 95.81% of the stock is currently owned by institutional investors.

WillScot Mobile Mini Trading Up 1.6 %

NASDAQ WSC opened at $40.45 on Tuesday. The business has a 50 day simple moving average of $38.26 and a 200 day simple moving average of $39.65. WillScot Mobile Mini Holdings Corp. has a one year low of $33.23 and a one year high of $52.16. The stock has a market capitalization of $7.69 billion, a P/E ratio of 24.97, a P/E/G ratio of 1.36 and a beta of 1.36. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.91 and a quick ratio of 0.83.

WillScot Mobile Mini (NASDAQ:WSC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $604.59 million during the quarter, compared to the consensus estimate of $614.85 million. WillScot Mobile Mini had a return on equity of 24.27% and a net margin of 7.77%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 EPS. Research analysts expect that WillScot Mobile Mini Holdings Corp. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Bradley Lee Soultz bought 5,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were bought at an average price of $38.97 per share, for a total transaction of $194,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 149,686 shares of the company’s stock, valued at $5,833,263.42. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.30% of the company’s stock.

About WillScot Mobile Mini

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.