Federated Hermes Inc. Has $12.09 Million Position in Custom Truck One Source, Inc. (NYSE:CTOS)

Federated Hermes Inc. cut its stake in Custom Truck One Source, Inc. (NYSE:CTOS) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,780,000 shares of the company’s stock after selling 4,476 shares during the period. Federated Hermes Inc. owned approximately 1.16% of Custom Truck One Source worth $12,093,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Quadrature Capital Ltd grew its stake in Custom Truck One Source by 9.7% during the fourth quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock worth $184,000 after buying an additional 2,636 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Custom Truck One Source by 21.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,395 shares of the company’s stock worth $96,000 after acquiring an additional 2,882 shares in the last quarter. Sendero Wealth Management LLC increased its stake in Custom Truck One Source by 6.5% in the second quarter. Sendero Wealth Management LLC now owns 162,800 shares of the company’s stock valued at $708,000 after acquiring an additional 10,000 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in Custom Truck One Source during the first quarter valued at approximately $58,000. Finally, Victory Capital Management Inc. acquired a new position in Custom Truck One Source during the second quarter valued at approximately $47,000. 90.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stifel Nicolaus began coverage on Custom Truck One Source in a research note on Friday, June 14th. They issued a “hold” rating and a $5.50 price target on the stock. Oppenheimer reduced their price target on shares of 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.30.

Custom Truck One Source Stock Performance

Shares of CTOS stock opened at $3.74 on Tuesday. The firm has a market capitalization of $899.16 million, a price-to-earnings ratio of 37.40 and a beta of 0.63. The company has a current ratio of 1.30, a quick ratio of 0.20 and a debt-to-equity ratio of 1.78. The business’s 50-day moving average price is $4.31 and its 200-day moving average price is $4.76. Custom Truck One Source, Inc. has a 12 month low of $3.26 and a 12 month high of $7.00.

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

Insider Buying and Selling

In other news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $3.42, for a total value of $8,051,052.78. Following the completion of the sale, the insider now owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $3.42, for a total value of $8,051,052.78. Following the sale, the insider now directly owns 23,384,879 shares in the company, valued at $79,976,286.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas R. Rich bought 26,200 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $3.84 per share, with a total value of $100,608.00. Following the transaction, the insider now directly owns 224,778 shares in the company, valued at approximately $863,147.52. The disclosure for this purchase can be found here. 5.60% of the stock is owned by corporate 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).