National Pension Service increased its position in shares of Waste Connections Inc (NYSE:WCN) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 349,242 shares of the business services provider’s stock after purchasing an additional 18,201 shares during the period. National Pension Service’s holdings in Waste Connections were worth $33,381,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its stake in Waste Connections by 3.7% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 45,724 shares of the business services provider’s stock worth $4,051,000 after buying an additional 1,624 shares during the period. Scotia Capital Inc. raised its stake in Waste Connections by 19.1% during the 2nd quarter. Scotia Capital Inc. now owns 181,058 shares of the business services provider’s stock worth $17,257,000 after buying an additional 29,098 shares during the period. Allstate Corp raised its stake in Waste Connections by 0.5% during the 1st quarter. Allstate Corp now owns 28,753 shares of the business services provider’s stock worth $2,547,000 after buying an additional 133 shares during the period. Eagle Asset Management Inc. raised its stake in Waste Connections by 1.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,239,464 shares of the business services provider’s stock worth $213,989,000 after buying an additional 38,694 shares during the period. Finally, Natixis Advisors L.P. raised its stake in Waste Connections by 5.8% during the 2nd quarter. Natixis Advisors L.P. now owns 52,313 shares of the business services provider’s stock worth $5,000,000 after buying an additional 2,856 shares during the period. 82.51% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on WCN shares. ValuEngine lowered Waste Connections from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. CIBC reissued a “market perform” rating on shares of Waste Connections in a report on Thursday, July 18th. Royal Bank of Canada set a $100.00 price objective on Waste Connections and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets set a $105.00 price objective on Waste Connections and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Macquarie started coverage on Waste Connections in a report on Tuesday, September 3rd. They set a “buy” rating and a $100.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $96.66.
WCN traded up $0.45 during midday trading on Thursday, reaching $90.47. 26,248 shares of the company were exchanged, compared to its average volume of 588,699. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The company’s fifty day moving average price is $90.94 and its 200 day moving average price is $91.42. The company has a market cap of $23.74 billion, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 2.87 and a beta of 0.19. Waste Connections Inc has a one year low of $70.28 and a one year high of $97.93.
Waste Connections (NYSE:WCN) last released its earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.69. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. Waste Connections’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Waste Connections Inc will post 2.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 12th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, August 9th. Waste Connections’s dividend payout ratio is presently 25.40%.
In other news, COO Darrell W. Chambliss sold 14,100 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $89.55, for a total value of $1,262,655.00. Following the completion of the transaction, the chief operating officer now directly owns 104,100 shares of the company’s stock, valued at $9,322,155. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Patrick James Shea sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $92.35, for a total value of $1,569,950.00. Following the completion of the transaction, the vice president now directly owns 26,269 shares of the company’s stock, valued at $2,425,942.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,638 shares of company stock valued at $7,128,039. 0.30% of the stock is currently owned by corporate insiders.
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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