Brasada Capital Management LP increased its stake in shares of Waste Connections Inc (NYSE:WCN) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,920 shares of the business services provider’s stock after purchasing an additional 4,137 shares during the quarter. Waste Connections accounts for approximately 3.0% of Brasada Capital Management LP’s holdings, making the stock its 4th biggest position. Brasada Capital Management LP’s holdings in Waste Connections were worth $11,125,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Coe Capital Management LLC lifted its holdings in Waste Connections by 0.4% in the third quarter. Coe Capital Management LLC now owns 25,759 shares of the business services provider’s stock valued at $2,370,000 after acquiring an additional 107 shares during the period. Institute for Wealth Management LLC. lifted its holdings in Waste Connections by 6.0% in the third quarter. Institute for Wealth Management LLC. now owns 2,281 shares of the business services provider’s stock valued at $210,000 after acquiring an additional 129 shares during the period. Advisor Partners LLC lifted its holdings in Waste Connections by 4.7% in the third quarter. Advisor Partners LLC now owns 3,778 shares of the business services provider’s stock valued at $348,000 after acquiring an additional 171 shares during the period. Commonwealth Bank of Australia lifted its holdings in Waste Connections by 47.7% in the second quarter. Commonwealth Bank of Australia now owns 551 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 178 shares during the period. Finally, PFG Advisors lifted its holdings in Waste Connections by 1.2% in the second quarter. PFG Advisors now owns 16,339 shares of the business services provider’s stock valued at $1,547,000 after acquiring an additional 200 shares during the period. 82.96% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on WCN shares. Oppenheimer restated a “market perform” rating on shares of Waste Connections in a research report on Thursday, July 18th. JPMorgan Chase & Co. started coverage on Waste Connections in a research report on Wednesday, August 7th. They issued an “overweight” rating and a $98.00 price target for the company. CIBC set a $99.00 price target on Waste Connections and gave the company a “buy” rating in a research report on Friday, October 18th. Macquarie started coverage on Waste Connections in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $100.00 price target for the company. Finally, Stifel Nicolaus set a $105.00 price target on Waste Connections and gave the company a “buy” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $97.66.
In related news, Director Edward E. Guillet sold 20,000 shares of Waste Connections stock in a transaction dated Thursday, August 15th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Matthew Stephen Black sold 4,000 shares of Waste Connections stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $91.69, for a total value 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 quarter, insiders have sold 26,038 shares of company stock valued at $2,361,294. 0.30% of the stock is currently owned by company insiders.
Shares of WCN stock opened at $88.84 on Friday. The stock has a market cap of $23.69 billion, a P/E ratio of 35.25, a P/E/G ratio of 3.89 and a beta of 0.16. The business has a fifty day simple moving average of $91.70 and a 200-day simple moving average of $92.74. Waste Connections Inc has a fifty-two week low of $70.28 and a fifty-two week high of $97.93. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Waste Connections had a return on equity of 10.62% and a net margin of 10.70%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. On average, sell-side analysts anticipate that Waste Connections Inc will post 2.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Friday, November 8th. Waste Connections’s dividend payout ratio is presently 25.40%.
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.
See Also: 52-week highs
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.