Keybank National Association OH lessened its stake in Waste Connections Inc (NYSE:WCN) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,760 shares of the business services provider’s stock after selling 1,564 shares during the quarter. Keybank National Association OH’s holdings in Waste Connections were worth $3,566,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. SRS Capital Advisors Inc. grew its position in Waste Connections by 26.9% in the third quarter. SRS Capital Advisors Inc. now owns 2,035 shares of the business services provider’s stock valued at $187,000 after acquiring an additional 432 shares during the last quarter. First Mercantile Trust Co. grew its holdings in shares of Waste Connections by 5.6% during the third quarter. First Mercantile Trust Co. now owns 5,719 shares of the business services provider’s stock worth $526,000 after purchasing an additional 303 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Waste Connections by 54.9% during the third quarter. IFM Investors Pty Ltd now owns 29,079 shares of the business services provider’s stock worth $2,675,000 after purchasing an additional 10,312 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Waste Connections by 25.3% during the third quarter. Russell Investments Group Ltd. now owns 383,374 shares of the business services provider’s stock worth $35,145,000 after purchasing an additional 77,388 shares during the last quarter. Finally, BB&T Corp grew its holdings in shares of Waste Connections by 24.2% during the third quarter. BB&T Corp now owns 8,106 shares of the business services provider’s stock worth $746,000 after purchasing an additional 1,580 shares during the last quarter. 82.96% of the stock is owned by institutional investors and hedge funds.
WCN has been the topic of several research reports. Macquarie initiated coverage on Waste Connections in a report on Tuesday, September 3rd. They set a “buy” rating and a $100.00 price target on the stock. Oppenheimer reiterated a “market perform” rating on shares of Waste Connections in a report on Thursday, July 18th. BMO Capital Markets set a $105.00 target price on Waste Connections and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada set a $100.00 target price on Waste Connections and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, CIBC set a $99.00 target price on Waste Connections and gave the company a “buy” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $97.66.
WCN traded down $0.64 during trading on Friday, hitting $88.84. The company’s stock had a trading volume of 1,259,085 shares, compared to its average volume of 772,578. Waste Connections Inc has a twelve month low of $70.28 and a twelve month 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. The stock’s fifty day moving average price is $91.70 and its 200-day moving average price is $92.74. The firm has a market capitalization of $23.69 billion, a P/E ratio of 35.25, a PEG ratio of 3.89 and a beta of 0.16.
Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. Waste Connections had a return on equity of 10.62% and a net margin of 10.70%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 earnings per share. Equities research analysts expect that Waste Connections Inc will post 2.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.56 dividend on an annualized basis and a yield of 0.63%. Waste Connections’s dividend payout ratio (DPR) is presently 25.40%.
In other Waste Connections news, Director Michael W. Harlan sold 2,038 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $91.43, for a total value of $186,334.34. Following the completion of the transaction, the director now owns 17,425 shares in the company, valued at approximately $1,593,167.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward E. Guillet sold 20,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $90.41, for a total value of $1,808,200.00. Following the completion of the transaction, the director now owns 41,173 shares of the company’s stock, valued at approximately $3,722,450.93. The disclosure for this sale can be found here. Insiders sold a total of 26,038 shares of company stock valued at $2,361,294 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.
About Waste Connections
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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