State of Wisconsin Investment Board raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 7.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,533 shares of the business services provider’s stock after purchasing an additional 17,113 shares during the quarter. State of Wisconsin Investment Board owned 0.09% of Waste Connections worth $16,329,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Thompson Davis & CO. Inc. increased its stake in Waste Connections by 55.8% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 559 shares in the last quarter. Fieldpoint Private Securities LLC increased its stake in Waste Connections by 50.0% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 702 shares in the last quarter. US Bancorp DE increased its stake in Waste Connections by 14.3% during the 2nd quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 271 shares in the last quarter. Creative Planning increased its stake in Waste Connections by 223.5% during the 2nd quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock valued at $154,000 after purchasing an additional 1,656 shares in the last quarter. Finally, BB&T Corp bought a new stake in Waste Connections during the 2nd quarter valued at $212,000. Institutional investors and hedge funds own 82.62% of the company’s stock.
In other news, COO Darrell W. Chambliss sold 5,625 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total transaction of $399,318.75. Following the sale, the chief operating officer now directly owns 101,292 shares in the company, valued at $7,190,719.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Davis sold 700 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $71.72, for a total value of $50,204.00. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
Shares of Waste Connections, Inc. (NYSE WCN) opened at $69.29 on Monday. The company has a market cap of $18,267.68, a PE ratio of 33.05, a price-to-earnings-growth ratio of 4.12 and a beta of 0.18. Waste Connections, Inc. has a fifty-two week low of $48.78 and a fifty-two week high of $74.20. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66.
Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The company’s revenue was up 11.2% compared to the same quarter last year. equities research analysts anticipate that Waste Connections, Inc. will post 2.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, November 7th. This is a boost from Waste Connections’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 0.81%. Waste Connections’s dividend payout ratio is currently 42.42%.
Waste Connections declared that its board has authorized a stock buyback program on Wednesday, August 2nd that authorizes the company to repurchase 13,180,000 outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
WCN has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price target on shares of Waste Connections from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Waste Connections from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub downgraded shares of Waste Connections from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. TD Securities lifted their price objective on shares of Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, Credit Suisse Group set a $75.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Waste Connections has a consensus rating of “Buy” and a consensus target price of $77.87.
Waste Connections Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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