Custom Truck One Source, Inc. (NYSE:CTOS) Major Shareholder Ecp Controlco, Llc Sells 2,354,109 Shares

Custom Truck One Source, Inc. (NYSE:CTOS) major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the transaction, the insider now owns 23,384,879 shares in the company, valued at approximately $79,976,286.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Custom Truck One Source Stock Down 8.1 %

CTOS stock traded down $0.30 during mid-day trading on Monday, reaching $3.40. 1,263,450 shares of the company traded hands, compared to its average volume of 614,963. The company has a quick ratio of 0.20, a current ratio of 1.30 and a debt-to-equity ratio of 1.78. The firm’s 50 day moving average price is $4.37 and its 200 day moving average price is $4.86. The stock has a market cap of $803.11 million, a price-to-earnings ratio of 34.00 and a beta of 0.63. Custom Truck One Source, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $7.00.

Custom Truck One Source (NYSE:CTOS) last announced its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Custom Truck One Source had a negative net margin of 0.75% and a negative return on equity of 1.51%. The company had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $456.23 million. During the same period in the previous year, the firm earned $0.05 EPS. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. As a group, equities research analysts predict that Custom Truck One Source, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp increased its position in shares of Custom Truck One Source by 9.8% during the fourth quarter. M&T Bank Corp now owns 29,489 shares of the company’s stock valued at $183,000 after acquiring an additional 2,627 shares during the last quarter. Jump Financial LLC purchased a new position in Custom Truck One Source in the fourth quarter valued at about $336,000. Clearbridge Investments LLC grew its position in shares of Custom Truck One Source by 3.9% during the 4th quarter. Clearbridge Investments LLC now owns 1,878,893 shares of the company’s stock valued at $11,612,000 after acquiring an additional 70,005 shares during the period. Quadrature Capital Ltd increased its stake in shares of Custom Truck One Source by 9.7% during the 4th quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock worth $184,000 after purchasing an additional 2,636 shares during the last quarter. Finally, Register Financial Advisors LLC raised its holdings in shares of Custom Truck One Source by 410.8% in the 1st quarter. Register Financial Advisors LLC now owns 179,300 shares of the company’s stock worth $1,044,000 after purchasing an additional 144,200 shares during the period. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTOS. Oppenheimer dropped their price target on Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus assumed coverage on Custom Truck One Source in a research report on Friday, June 14th. They set a “hold” rating and a $5.50 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.30.

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).