Jennison Associates LLC Sells 833,944 Shares of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Jennison Associates LLC trimmed its stake in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC - Free Report) by 72.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 323,884 shares of the company's stock after selling 833,944 shares during the quarter. Jennison Associates LLC owned approximately 0.18% of WillScot Mobile Mini worth $12,178,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WSC. Price T Rowe Associates Inc. MD grew its holdings in WillScot Mobile Mini by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,668,190 shares of the company's stock worth $542,572,000 after purchasing an additional 456,674 shares during the period. Clearbridge Investments LLC boosted its stake in shares of WillScot Mobile Mini by 2.6% during the 2nd quarter. Clearbridge Investments LLC now owns 5,887,128 shares of the company's stock worth $221,591,000 after acquiring an additional 148,973 shares during the period. Boston Partners increased its holdings in shares of WillScot Mobile Mini by 66.0% during the 1st quarter. Boston Partners now owns 5,434,288 shares of the company's stock worth $251,118,000 after acquiring an additional 2,159,958 shares during the last quarter. William Blair Investment Management LLC raised its stake 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 valued at $174,796,000 after acquiring an additional 2,355,445 shares during the period. Finally, Swedbank AB lifted its holdings in WillScot Mobile Mini by 229.2% during the 3rd quarter. Swedbank AB now owns 3,226,000 shares of the company's stock valued at $121,298,000 after purchasing an additional 2,246,000 shares during the last quarter. Institutional investors and hedge funds own 95.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WSC shares. Oppenheimer dropped their price objective on shares of WillScot Mobile Mini from $53.00 to $46.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Baird R W downgraded WillScot Mobile Mini from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. Stifel Nicolaus reduced 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. DA Davidson decreased 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 dropped 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $45.00.

WillScot Mobile Mini Price Performance

WSC traded up $0.86 during trading on Friday, hitting $36.30. 2,038,623 shares of the stock traded hands, compared to its average volume of 4,561,093. The business has a 50 day moving average price of $37.62 and a 200 day moving average price of $38.14. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.90 and a quick ratio of 0.82. WillScot Mobile Mini Holdings Corp. has a twelve month low of $32.71 and a twelve month high of $52.16. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 330.03, a PEG ratio of 2.14 and a beta of 1.37.

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

Insider Activity

In related news, EVP Hezron T. Lopez sold 20,000 shares of WillScot Mobile Mini stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $39.38, for a total transaction of $787,600.00. Following the sale, the executive vice president now directly owns 57,918 shares in the company, valued at $2,280,810.84. This trade represents a 25.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sally J. Shanks sold 14,059 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.69, for a total transaction of $487,706.71. Following the sale, the chief accounting officer now directly owns 26,113 shares in the company, valued at $905,859.97. The trade was a 35.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 20,000 shares of company stock worth $728,750. Corporate insiders own 3.30% of the company's stock.

WillScot Mobile Mini Company 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.