Nomura Asset Management Co. Ltd. boosted its stake in Waste Connections Inc (NYSE:WCN) by 18.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,890 shares of the business services provider’s stock after acquiring an additional 6,100 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Waste Connections were worth $2,790,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Waste Connections in the fourth quarter worth about $194,000. Timber Hill LLC bought a new stake in shares of Waste Connections in the fourth quarter valued at approximately $206,000. Granite Investment Advisors LLC bought a new stake in shares of Waste Connections in the fourth quarter valued at approximately $248,000. BB&T Investment Services Inc. raised its position in shares of Waste Connections by 29.6% in the fourth quarter. BB&T Investment Services Inc. now owns 4,611 shares of the business services provider’s stock valued at $318,000 after purchasing an additional 1,052 shares during the period. Finally, Teza Capital Management LLC raised its position in shares of Waste Connections by 54.0% in the first quarter. Teza Capital Management LLC now owns 4,698 shares of the business services provider’s stock valued at $337,000 after purchasing an additional 1,648 shares during the period. 83.30% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Matthew Stephen Black sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $75.94, for a total transaction of $379,700.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider James Little sold 3,000 shares of Waste Connections stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $76.28, for a total value of $228,840.00. Following the completion of the transaction, the insider now owns 22,709 shares in the company, valued at $1,732,242.52. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock worth $2,994,745 in the last 90 days. 0.40% of the stock is currently owned by company insiders.
Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets set a $82.00 price target on shares of Waste Connections and gave the company a “buy” rating in a research report on Friday, May 4th. UBS Group assumed coverage on shares of Waste Connections in a research report on Thursday, March 15th. They issued a “buy” rating and a $91.00 price target on the stock. Credit Suisse Group set a $80.00 price target on shares of Waste Connections and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada boosted their price target on shares of Waste Connections from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, May 4th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Waste Connections presently has an average rating of “Buy” and a consensus price target of $80.50.
Shares of Waste Connections opened at $76.64 on Wednesday, Marketbeat.com reports. The company has a market cap of $20.16 billion, a P/E ratio of 35.48, a PEG ratio of 2.29 and a beta of 0.18. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.31 and a quick ratio of 1.31. Waste Connections Inc has a 12 month low of $63.14 and a 12 month high of $78.48.
Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, May 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Waste Connections had a return on equity of 9.68% and a net margin of 14.68%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. equities research analysts anticipate that Waste Connections Inc will post 2.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 30th. Investors of record on Wednesday, May 16th were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, May 15th. This represents a $0.56 dividend on an annualized basis and a yield of 0.73%. Waste Connections’s dividend payout ratio is presently 25.93%.
About Waste Connections
Waste Connections, Inc, a solid waste services company, 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, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.
Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections Inc (NYSE:WCN).
Receive News & Ratings for Waste Connections Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections and related companies with MarketBeat.com's FREE daily email newsletter.