Paloma Partners Management Co Takes Position in Custom Truck One Source, Inc. (NYSE:CTOS)

Paloma Partners Management Co acquired a new position in shares of Custom Truck One Source, Inc. (NYSE:CTOS) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 205,000 shares of the company’s stock, valued at approximately $1,193,000. Paloma Partners Management Co owned approximately 0.09% of Custom Truck One Source as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Heartland Advisors Inc. purchased a new stake in Custom Truck One Source in the first quarter valued at $2,456,000. Vanguard Group Inc. raised its position in Custom Truck One Source by 1.6% in the third quarter. Vanguard Group Inc. now owns 3,251,103 shares of the company’s stock valued at $20,157,000 after purchasing an additional 52,437 shares during the period. SG Americas Securities LLC raised its position in Custom Truck One Source by 330.2% in the fourth quarter. SG Americas Securities LLC now owns 84,169 shares of the company’s stock valued at $520,000 after purchasing an additional 64,606 shares during the period. M&T Bank Corp raised its position in Custom Truck One Source by 9.8% in the fourth quarter. M&T Bank Corp now owns 29,489 shares of the company’s stock valued at $183,000 after purchasing an additional 2,627 shares during the period. Finally, Quadrature Capital Ltd raised its position in Custom Truck One Source by 9.7% in the fourth quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock valued at $184,000 after purchasing an additional 2,636 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Stock Performance

CTOS traded down $0.15 on Monday, hitting $5.02. 559,627 shares of the company traded hands, compared to its average volume of 591,088. The company has a quick ratio of 0.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.66. The company has a 50 day moving average of $4.57 and a 200-day moving average of $5.36. Custom Truck One Source, Inc. has a 12-month low of $3.61 and a 12-month high of $7.53. The stock has a market capitalization of $1.21 billion, a PE ratio of 50.20 and a beta of 0.70.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Robert W. Baird dropped their price objective on Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Oppenheimer dropped their price objective on Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. JPMorgan Chase & Co. lowered their target price on Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus initiated coverage on Custom Truck One Source in a research note on Friday, June 14th. They set a “hold” rating and a $5.50 target price for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

Insiders Place Their Bets

In other news, Director Marshall Heinberg acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $4.07 per share, with a total value of $162,800.00. Following the purchase, the director now directly owns 293,856 shares of the company’s stock, valued at approximately $1,195,993.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Marshall Heinberg acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $4.07 per share, with a total value of $162,800.00. Following the purchase, the director now directly owns 293,856 shares of the company’s stock, valued at approximately $1,195,993.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Eperjesy acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $3.90 per share, with a total value of $78,000.00. Following the completion of the purchase, the chief financial officer now directly owns 176,962 shares in the company, valued at $690,151.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 73,000 shares of company stock worth $293,560. Company insiders own 5.60% of the company’s stock.

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).