Keybank National Association OH cut its stake in shares of Waste Connections Inc (NYSE:WCN) by 3.9% during the third quarter, HoldingsChannel reports. The firm 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 quarter.
A number of other hedge funds also recently modified their holdings of WCN. Scotia Capital Inc. boosted its position in Waste Connections by 19.1% during the 2nd quarter. Scotia Capital Inc. now owns 181,058 shares of the business services provider’s stock valued at $17,257,000 after acquiring an additional 29,098 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Waste Connections by 1.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,239,464 shares of the business services provider’s stock valued at $213,989,000 after buying an additional 38,694 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Waste Connections by 5.8% during the 2nd quarter. Natixis Advisors L.P. now owns 52,313 shares of the business services provider’s stock valued at $5,000,000 after buying an additional 2,856 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Waste Connections during the 2nd quarter valued at about $2,701,000. Finally, PFG Advisors grew its position in shares of Waste Connections by 10.3% during the 3rd quarter. PFG Advisors now owns 18,014 shares of the business services provider’s stock valued at $1,660,000 after acquiring an additional 1,675 shares during the period. Institutional investors and hedge funds own 82.96% of the company’s stock.
Shares of NYSE:WCN traded down $0.64 during trading on Friday, reaching $88.84. 1,259,085 shares of the company’s stock traded hands, compared to its average volume of 772,578. 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 Inc has a fifty-two week low of $70.28 and a fifty-two week high of $97.93. The firm has a market cap of $23.69 billion, a PE ratio of 35.25, a P/E/G ratio of 3.89 and a beta of 0.16. The company has a 50-day simple moving average of $91.70 and a 200-day simple moving average of $92.74.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Waste Connections had a return on equity of 10.62% and a net margin of 10.70%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the firm posted $0.69 EPS. Waste Connections’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Waste Connections Inc will post 2.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Friday, November 8th. Waste Connections’s payout ratio is 25.40%.
In related news, 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 directly owns 23,063 shares in the company, valued at approximately $2,114,646.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $1,808,200.00. Following the completion of the sale, the director now owns 41,173 shares in the company, valued at $3,722,450.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,038 shares of company stock worth $2,361,294. 0.30% of the stock is currently owned by insiders.
A number of research firms have recently commented on WCN. JPMorgan Chase & Co. began coverage on Waste Connections in a research report on Wednesday, August 7th. They set an “overweight” rating and a $98.00 target price on the stock. Oppenheimer restated a “market perform” rating on shares of Waste Connections in a research report on Thursday, July 18th. Royal Bank of Canada set a $100.00 target price on Waste Connections and gave the company a “buy” rating in a research report on Wednesday, July 31st. ValuEngine cut Waste Connections from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Macquarie began coverage on Waste Connections in a research report on Tuesday, September 3rd. They set a “buy” rating and a $100.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $97.66.
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.
Read More: Index Funds
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.