Franklin Resources Inc. Reduces Holdings in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Franklin Resources Inc. lowered its stake in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC - Free Report) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,674,935 shares of the company's stock after selling 515,351 shares during the period. Franklin Resources Inc. owned 4.15% of WillScot Mobile Mini worth $278,984,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in WillScot Mobile Mini during the 3rd quarter valued at $25,000. Hexagon Capital Partners LLC boosted its stake in WillScot Mobile Mini by 200.0% during the 3rd 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 last quarter. Financial Management Professionals Inc. purchased a new stake in WillScot Mobile Mini during the 3rd quarter valued at $36,000. Summit Securities Group LLC purchased a new stake in WillScot Mobile Mini during the 2nd quarter valued at $56,000. Finally, CWM LLC boosted its stake in WillScot Mobile Mini by 80.3% during the 2nd quarter. CWM LLC now owns 1,635 shares of the company's stock valued at $62,000 after purchasing an additional 728 shares during the last quarter. Hedge funds and other institutional investors own 95.81% of the company's stock.

Insiders Place Their Bets

In other news, insider Graeme Parkes sold 2,900 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $37.01, for a total transaction of $107,329.00. Following the sale, the insider now directly owns 72,818 shares of the company's stock, valued at $2,694,994.18. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bradley Lee Soultz acquired 5,000 shares of the company's stock in a transaction dated Wednesday, September 18th. The shares were bought at an average cost 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 approximately $5,833,263.42. The trade was a 3.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 20,000 shares of company stock valued at $728,750 and sold 36,959 shares valued at $1,382,636. 3.30% of the stock is owned by insiders.

WillScot Mobile Mini Price Performance

NASDAQ:WSC traded down $0.74 on Friday, reaching $35.12. 5,386,139 shares of the company's stock traded hands, compared to its average volume of 2,094,132. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 3.42. The stock has a 50-day simple moving average of $37.30 and a 200-day simple moving average of $37.90. The firm has a market cap of $6.49 billion, a PE ratio of 319.30, a P/E/G ratio of 2.12 and a beta of 1.38. WillScot Mobile Mini Holdings Corp. has a 12 month low of $32.71 and a 12 month high of $52.16.

WillScot Mobile Mini (NASDAQ:WSC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.10). The business had revenue of $601.43 million for the quarter, compared to the consensus estimate of $617.83 million. WillScot Mobile Mini had a net margin of 1.05% and a return on equity of 23.97%. WillScot Mobile Mini's revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. Equities research analysts forecast that WillScot Mobile Mini Holdings Corp. will post 1.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut WillScot Mobile Mini from a "buy" rating to a "hold" rating and lowered their price target for the company from $46.00 to $35.00 in a report on Thursday, October 31st. Barclays lowered their price target on WillScot Mobile Mini from $44.00 to $40.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Baird R W cut WillScot Mobile Mini from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. Finally, Robert W. Baird decreased their target price on WillScot Mobile Mini from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $45.00.

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.