Bradley Soultz, the Chief Executive Officer of WillScot (NASDAQ:WSC) Holdings Corp (NASDAQ:WSC), recently acquired 5,000 shares of the company's common stock. The shares were purchased at a price of $36.38 each, totaling approximately $181,900. This transaction increased Soultz's direct ownership to 144,686 shares.
In addition to the purchase, Soultz made a transfer of 5,000 shares to the Ellen M. Soultz Irrevocable Trust without any financial consideration. This move, which reflects a change in the form of beneficial ownership, did not alter Soultz's pecuniary interest in the shares. Following this transfer, Soultz holds 139,686 shares directly.
The report also highlights Soultz's indirect holdings through trusts, including 406,376 shares in the Bradley L. Soultz Irrevocable Trust and 408,497 shares in the Ellen M. Soultz Irrevocable Trust.
In other recent news, WillScot Corporation reported record adjusted EBITDA margins of 44.4% during its Q3 2024 earnings call. Despite a slight drop in revenue to $601 million, the company saw a 13% year-over-year rise in adjusted free cash flow per share, reaching $3.12. Amid a challenging market, the company witnessed a decrease in storage leasing revenues and a cautious outlook for the year's end. However, WillScot remains committed to operational optimization and portfolio expansion, with an Investor Day planned for the first half of 2025 to outline growth strategies. The company also increased its share repurchase authorization to $1 billion and maintains a strong liquidity position with $1.7 billion available in their revolver. Analysts noted a 3.4 times net debt to adjusted EBITDA leverage, within the target range. These are recent developments that reflect the company's resilience and strategic focus in a fluctuating market.
InvestingPro Insights
Bradley Soultz's recent acquisition of WillScot Holdings Corp (NASDAQ:WSC) shares aligns with the company's aggressive share buyback strategy, as highlighted by one of the InvestingPro Tips. This insider buying could be seen as a vote of confidence in the company's future prospects.
WillScot's financial health appears robust, with impressive gross profit margins of 54.4% for the last twelve months as of Q3 2023, according to InvestingPro Data. This strong profitability is further supported by an InvestingPro Tip indicating that the company has been profitable over the last twelve months.
Despite these positive indicators, investors should note that WillScot is trading at a high earnings multiple, with a P/E ratio of 25.51 (adjusted for the last twelve months as of Q3 2023). This valuation metric suggests that the market has high growth expectations for the company.
For a more comprehensive analysis, InvestingPro offers 11 additional tips for WillScot, providing investors with a deeper understanding of the company's financial position and market performance.
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