PHOENIX—Sally J. Shanks, the Chief Accounting Officer of WillScot (NASDAQ:WSC) Holdings Corp (NASDAQ:WSC), recently sold a portion of the company's stock, according to a recent SEC filing. On November 18, Shanks sold 14,059 shares of common stock at an average price of $34.6882 per share, totaling approximately $487,681. After the sale, Shanks retains ownership of 26,113 shares in the company.
The transaction was executed at prices ranging from $34.47 to $34.815 per share. WillScot Holdings, headquartered in Phoenix, Arizona, specializes in miscellaneous equipment rental and leasing services.
In other recent news, WillScot Corporation reported a record adjusted EBITDA margin of 44.4% in its Q3 2024 earnings call. Despite a slight revenue decline to $601 million, the company saw a 13% year-over-year increase in adjusted free cash flow per share, reaching $3.12. Amid a challenging market, the company noted a decrease in storage leasing revenues but remains focused on operational optimization and portfolio expansion. WillScot plans to host an Investor Day in the first half of 2025 to discuss growth strategies.
The company's recent developments also include a reduction in variable costs by over $20 million, aiding in margin expansion. Looking forward, WillScot anticipates continued margin expansion and modest growth in 2025. The company's adjusted EBITDA guidance for 2024 has been revised to a midpoint of $1.60 billion.
Despite some bearish highlights such as a decrease in non-residential construction square footage and a decline in storage leasing revenues, WillScot maintains a positive outlook. The company's operational excellence and strategic investments are expected to further strengthen its market position in the coming years.
InvestingPro Insights
Following the recent stock sale by WillScot Holdings Corp's Chief Accounting Officer, it's worth examining some key financial metrics and insights provided by InvestingPro to gain a broader perspective on the company's current position.
According to InvestingPro data, WillScot Holdings Corp (NASDAQ:WSC) has a market capitalization of $6.51 billion. The company's revenue for the last twelve months as of Q3 2023 stood at $2.41 billion, with a modest growth of 2.67%. Notably, WillScot boasts an impressive gross profit margin of 54.4%, underscoring its operational efficiency.
An InvestingPro Tip highlights that management has been aggressively buying back shares, which could be seen as a sign of confidence in the company's future prospects. This is particularly interesting in light of the recent insider sale, as it suggests a broader corporate strategy of returning value to shareholders.
Another InvestingPro Tip notes that WillScot is trading near its 52-week low, with the stock price currently at 67.37% of its 52-week high. This information, coupled with the fact that the company's P/E ratio (adjusted) stands at 23.69, might interest value-oriented investors looking for potential entry points.
For those seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 8 more InvestingPro Tips available for WillScot Holdings Corp, providing a deeper dive into the company's financial health and market position.
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