Bridgewater Associates LP boosted its holdings in shares of Waste Connections Inc (NYSE:WCN) by 25.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,771 shares of the business services provider’s stock after buying an additional 15,449 shares during the period. Bridgewater Associates LP’s holdings in Waste Connections were worth $6,036,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Aureus Asset Management LLC lifted its position in Waste Connections by 20.1% during the 2nd quarter. Aureus Asset Management LLC now owns 225,438 shares of the business services provider’s stock worth $16,971,000 after buying an additional 37,721 shares in the last quarter. Voya Investment Management LLC lifted its position in Waste Connections by 14.9% during the 2nd quarter. Voya Investment Management LLC now owns 1,402,178 shares of the business services provider’s stock worth $105,556,000 after buying an additional 181,301 shares in the last quarter. Seven Eight Capital LP lifted its position in Waste Connections by 59.6% during the 3rd quarter. Seven Eight Capital LP now owns 31,600 shares of the business services provider’s stock worth $2,521,000 after buying an additional 11,800 shares in the last quarter. Highstreet Asset Management Inc. lifted its position in Waste Connections by 35.3% during the 2nd quarter. Highstreet Asset Management Inc. now owns 15,169 shares of the business services provider’s stock worth $1,143,000 after buying an additional 3,958 shares in the last quarter. Finally, Osterweis Capital Management Inc. lifted its position in Waste Connections by 1.6% during the 2nd quarter. Osterweis Capital Management Inc. now owns 339,975 shares of the business services provider’s stock worth $25,594,000 after buying an additional 5,295 shares in the last quarter. Hedge funds and other institutional investors own 81.41% of the company’s stock.
Several research analysts recently issued reports on the stock. TD Securities set a $87.00 price target on shares of Waste Connections and gave the stock a “hold” rating in a research report on Wednesday, November 28th. Zacks Investment Research reiterated a “buy” rating and set a $85.00 price target on shares of Waste Connections in a research report on Saturday, November 17th. Royal Bank of Canada upped their price target on shares of Waste Connections from $84.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 31st. UBS Group set a $90.00 price target on shares of Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Finally, BMO Capital Markets upped their price target on shares of Waste Connections from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Waste Connections currently has a consensus rating of “Buy” and a consensus target price of $85.30.
In other Waste Connections news, Director Michael W. Harlan sold 11,900 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $79.30, for a total transaction of $943,670.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Darrell W. Chambliss sold 6,485 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was 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 own 0.40% of the company’s stock.
Shares of NYSE:WCN opened at $78.48 on Monday. The stock has a market cap of $20.67 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 2.67 and a beta of 0.11. Waste Connections Inc has a 1-year low of $65.06 and a 1-year high of $81.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.25 and a quick ratio of 1.25.
Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Monday, October 29th. The business services provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Waste Connections had a return on equity of 10.07% and a net margin of 15.14%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. As a group, sell-side analysts expect that Waste Connections Inc will post 2.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 27th. Shareholders of record on Tuesday, November 13th were issued a dividend of $0.16 per share. This is a boost from Waste Connections’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, November 9th. Waste Connections’s payout ratio is currently 29.63%.
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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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