Clearbridge Investments LLC Grows Stock Holdings in Custom Truck One Source, Inc. (NYSE:CTOS)

Clearbridge Investments LLC increased its stake in shares of Custom Truck One Source, Inc. (NYSE:CTOS) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,917,468 shares of the company’s stock after purchasing an additional 38,575 shares during the period. Clearbridge Investments LLC owned approximately 0.80% of Custom Truck One Source worth $11,160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Custom Truck One Source by 2.6% during the first quarter. Vanguard Group Inc. now owns 3,191,740 shares of the company’s stock valued at $18,576,000 after purchasing an additional 80,740 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Custom Truck One Source during the first quarter valued at approximately $58,000. Heartland Advisors Inc. purchased a new position in shares of Custom Truck One Source during the first quarter valued at approximately $2,456,000. GSA Capital Partners LLP raised its holdings in shares of Custom Truck One Source by 48.4% during the first quarter. GSA Capital Partners LLP now owns 285,810 shares of the company’s stock valued at $1,663,000 after purchasing an additional 93,267 shares during the last quarter. Finally, Canvas Wealth Advisors LLC grew its position in Custom Truck One Source by 2.2% during the first quarter. Canvas Wealth Advisors LLC now owns 3,487,228 shares of the company’s stock valued at $20,296,000 after buying an additional 73,986 shares during the period. 90.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird cut their target price on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Stifel Nicolaus assumed coverage on shares of Custom Truck One Source in a research report on Friday, June 14th. They set a “hold” rating and a $5.50 target price for the company. Finally, Oppenheimer cut their target price on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

Custom Truck One Source Price Performance

Shares of CTOS traded down $0.06 during mid-day trading on Wednesday, reaching $4.92. The stock had a trading volume of 437,594 shares, compared to its average volume of 593,246. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 50.30 and a beta of 0.70. Custom Truck One Source, Inc. has a 12 month low of $3.61 and a 12 month high of $7.53. The business has a fifty day moving average of $4.54 and a 200 day moving average of $5.39. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.22 and a current ratio of 1.34.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The firm had revenue of $411.31 million during the quarter, compared to the consensus estimate of $455.98 million. Custom Truck One Source had a return on equity of 2.48% and a net margin of 1.24%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 earnings per share. Equities analysts predict that Custom Truck One Source, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling

In related news, CFO Christopher J. Eperjesy bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $3.90 per share, for a total transaction of $78,000.00. Following the completion of the transaction, the chief financial officer now owns 176,962 shares in the company, valued at $690,151.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Christopher J. Eperjesy bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $3.90 per share, for a total transaction of $78,000.00. Following the completion of the transaction, the chief financial officer now owns 176,962 shares in the company, valued at $690,151.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marshall Heinberg bought 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $4.07 per share, with a total value of $162,800.00. Following the transaction, the director now owns 293,856 shares of the company’s stock, valued at approximately $1,195,993.92. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 73,000 shares of company stock worth $293,560. 5.60% of the stock is owned by insiders.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).