Bank of New York Mellon Corp Trims Position in Custom Truck One Source, Inc. (NYSE:CTOS)

Bank of New York Mellon Corp trimmed its position in Custom Truck One Source, Inc. (NYSE:CTOS) by 45.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,592 shares of the company’s stock after selling 102,086 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.05% of Custom Truck One Source worth $594,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CTOS. JPMorgan Chase & Co. grew its position in Custom Truck One Source by 939.4% during the third quarter. JPMorgan Chase & Co. now owns 492,411 shares of the company’s stock worth $1,699,000 after buying an additional 445,038 shares in the last quarter. Canvas Wealth Advisors LLC boosted its position in shares of Custom Truck One Source by 8.0% during the 4th quarter. Canvas Wealth Advisors LLC now owns 4,108,354 shares of the company’s stock valued at $19,761,000 after acquiring an additional 303,744 shares during the last quarter. Barclays PLC grew its holdings in shares of Custom Truck One Source by 349.6% during the third quarter. Barclays PLC now owns 84,526 shares of the company’s stock worth $291,000 after purchasing an additional 65,725 shares in the last quarter. Paloma Partners Management Co increased its position in shares of Custom Truck One Source by 17.5% in the third quarter. Paloma Partners Management Co now owns 256,146 shares of the company’s stock worth $884,000 after purchasing an additional 38,242 shares during the last quarter. Finally, FMR LLC raised its stake in Custom Truck One Source by 1,234.8% in the third quarter. FMR LLC now owns 28,846 shares of the company’s stock valued at $100,000 after purchasing an additional 26,685 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Oppenheimer increased their price target on shares of Custom Truck One Source from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th.

Custom Truck One Source Price Performance

Shares of Custom Truck One Source stock opened at $4.66 on Friday. The firm has a market capitalization of $1.05 billion, a PE ratio of -29.09 and a beta of 0.67. The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87. Custom Truck One Source, Inc. has a 12 month low of $3.03 and a 12 month high of $6.27. The business’s 50-day moving average price is $4.88 and its 200-day moving average price is $4.57.

Insiders Place Their Bets

In other Custom Truck One Source news, major shareholder Pe One Source Holdings, Llc purchased 8,143,635 shares of the stock in a transaction on Thursday, January 30th. The stock was acquired at an average cost of $4.00 per share, with a total value of $32,574,540.00. Following the completion of the purchase, the insider now directly owns 156,743,635 shares of the company’s stock, valued at approximately $626,974,540. This trade represents a 5.48 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 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).