DNB Asset Management AS lifted its position in shares of Waste Connections Inc (NYSE:WCN) by 11.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,263 shares of the business services provider’s stock after buying an additional 4,924 shares during the quarter. DNB Asset Management AS’s holdings in Waste Connections were worth $4,440,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Waste Connections by 82.5% in the 2nd quarter. BlackRock Inc. now owns 5,744,080 shares of the business services provider’s stock worth $549,020,000 after buying an additional 2,595,817 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Waste Connections by 307.2% in the 2nd quarter. Invesco Ltd. now owns 1,726,038 shares of the business services provider’s stock worth $164,974,000 after buying an additional 1,302,171 shares during the last quarter. FMR LLC increased its holdings in shares of Waste Connections by 50.3% in the 1st quarter. FMR LLC now owns 3,455,088 shares of the business services provider’s stock worth $306,071,000 after buying an additional 1,155,609 shares during the last quarter. Waddell & Reed Financial Inc. bought a new stake in shares of Waste Connections in the 2nd quarter worth about $74,847,000. Finally, Royal Bank of Canada grew its holdings in Waste Connections by 6.7% during the 2nd quarter. Royal Bank of Canada now owns 10,154,114 shares of the business services provider’s stock valued at $970,530,000 after purchasing an additional 637,641 shares during the last quarter. Institutional investors own 82.96% of the company’s stock.
WCN traded down $0.64 during midday trading on Friday, hitting $88.84. 1,259,085 shares of the company traded hands, compared to its average volume of 772,578. The business has a 50 day simple moving average of $91.70 and a two-hundred day simple moving average of $92.74. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $23.69 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 3.89 and a beta of 0.16. Waste Connections Inc has a 52-week low of $70.28 and a 52-week high of $97.93.
Waste Connections (NYSE:WCN) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Waste Connections had a net margin of 10.70% and a return on equity of 10.62%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business earned $0.69 earnings per share. Waste Connections’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Waste Connections Inc will post 2.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, November 8th. Waste Connections’s payout ratio is 25.40%.
In other news, Director Edward E. Guillet sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $90.41, for a total transaction of $1,808,200.00. Following the completion of the sale, the director now owns 41,173 shares in the company, valued at approximately $3,722,450.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Matthew Stephen Black sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $91.69, for a total transaction of $366,760.00. Following the sale, the vice president now owns 23,063 shares of the company’s stock, valued at approximately $2,114,646.47. The disclosure for this sale can be found here. In the last three months, insiders sold 26,038 shares of company stock valued at $2,361,294. Insiders own 0.30% of the company’s stock.
Several equities research analysts have issued reports on the stock. BMO Capital Markets set a $105.00 price objective on shares of Waste Connections and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada set a $100.00 price target on shares of Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus set a $105.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a research note on Monday, September 23rd. Macquarie began coverage on shares of Waste Connections in a research note on Tuesday, September 3rd. They set a “buy” rating and a $100.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Waste Connections in a research note on Wednesday, August 7th. They set an “overweight” rating and a $98.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $97.66.
Waste Connections Profile
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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