Dorsey Wright & Associates lowered its stake in shares of Waste Connections Inc (NYSE:WCN) by 7.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,238 shares of the business services provider’s stock after selling 7,383 shares during the quarter. Waste Connections comprises 1.3% of Dorsey Wright & Associates’ portfolio, making the stock its 21st largest holding. Dorsey Wright & Associates’ holdings in Waste Connections were worth $7,039,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in WCN. Zions Bancorporation bought a new stake in shares of Waste Connections in the second quarter valued at approximately $178,000. Jaffetilchin Investment Partners LLC bought a new stake in shares of Waste Connections in the second quarter valued at approximately $203,000. Trexquant Investment LP bought a new stake in shares of Waste Connections in the second quarter valued at approximately $216,000. Cumberland Partners Ltd bought a new stake in shares of Waste Connections in the second quarter valued at approximately $236,000. Finally, Natixis bought a new stake in shares of Waste Connections in the second quarter valued at approximately $265,000. 81.86% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE WCN traded up $0.84 during trading hours on Friday, reaching $75.88. The stock had a trading volume of 573,000 shares, compared to its average volume of 735,384. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $21.02 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 2.73 and a beta of 0.05. Waste Connections Inc has a twelve month low of $65.06 and a twelve month high of $81.36.
Waste Connections (NYSE:WCN) last issued its earnings results on Tuesday, July 24th. The business services provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. Waste Connections had a return on equity of 9.90% and a net margin of 14.80%. Waste Connections’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, research analysts anticipate that Waste Connections Inc will post 2.5 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. TD Securities increased their price objective on Waste Connections from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Citigroup increased their price objective on Waste Connections from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Saturday, July 7th. Finally, BMO Capital Markets increased their price objective on Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, June 29th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $83.00.
In related news, Director Michael W. Harlan sold 11,900 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $79.30, for a total value of $943,670.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Darrell W. Chambliss sold 6,485 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total value of $518,800.00. The disclosure for this sale can be found here. Insiders sold 38,385 shares of company stock valued at $3,063,670 over the last 90 days. 0.40% of the stock is currently owned by corporate insiders.
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.
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