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

Bank of New York Mellon Corp grew its holdings in shares of Custom Truck One Source, Inc. (NYSE:CTOS) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 266,415 shares of the company’s stock after buying an additional 11,964 shares during the period. Bank of New York Mellon Corp owned 0.11% of Custom Truck One Source worth $1,159,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jump Financial LLC purchased a new position in Custom Truck One Source during the 4th quarter valued at $336,000. Clearbridge Investments LLC increased its position in shares of Custom Truck One Source by 3.9% during the fourth quarter. Clearbridge Investments LLC now owns 1,878,893 shares of the company’s stock valued at $11,612,000 after buying an additional 70,005 shares during the period. Quadrature Capital Ltd raised its stake 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 worth $184,000 after buying an additional 2,636 shares in the last quarter. Register Financial Advisors LLC lifted its holdings in Custom Truck One Source by 410.8% in the first quarter. Register Financial Advisors LLC now owns 179,300 shares of the company’s stock worth $1,044,000 after buying an additional 144,200 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in Custom Truck One Source by 48.4% in the first quarter. GSA Capital Partners LLP now owns 285,810 shares of the company’s stock worth $1,663,000 after buying an additional 93,267 shares during the period. Institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Stock Down 3.1 %

CTOS stock opened at $3.72 on Friday. The business has a 50 day moving average of $4.29 and a 200 day moving average of $4.72. The firm has a market cap of $894.35 million, a PE ratio of 37.20 and a beta of 0.63. Custom Truck One Source, Inc. has a twelve month low of $3.26 and a twelve month high of $7.00. The company has a quick ratio of 0.20, a current ratio of 1.30 and a debt-to-equity ratio of 1.78.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share 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 the consensus estimate of $456.23 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. Custom Truck One Source’s revenue was down 7.4% compared to the same quarter last year. On average, research analysts forecast that Custom Truck One Source, Inc. will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 23,384,879 shares in the company, valued at $79,976,286.18. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Custom Truck One Source news, insider Thomas R. Rich acquired 26,200 shares of Custom Truck One Source stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average cost of $3.84 per share, for a total transaction of $100,608.00. Following the acquisition, the insider now owns 224,778 shares of the company’s stock, valued at $863,147.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CTOS shares. JPMorgan Chase & Co. decreased 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 report on Wednesday, July 10th. Oppenheimer decreased their price objective on Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Stifel Nicolaus began coverage on shares of Custom Truck One Source in a report on Friday, June 14th. They set a “hold” rating and a $5.50 target price on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.30.

Custom Truck One Source 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).