Sit Investment Associates Inc. lowered its stake in Waste Connections Inc (NYSE:WCN) by 0.9% during the 1st quarter, HoldingsChannel reports. The firm owned 94,030 shares of the business services provider’s stock after selling 900 shares during the quarter. Sit Investment Associates Inc.’s holdings in Waste Connections were worth $8,330,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in WCN. Lindbrook Capital LLC acquired a new stake in Waste Connections in the fourth quarter valued at approximately $30,000. Resources Investment Advisors Inc. bought a new stake in Waste Connections in the fourth quarter valued at $32,000. Rehmann Capital Advisory Group lifted its stake in Waste Connections by 3,300.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 442 shares of the business services provider’s stock valued at $33,000 after buying an additional 429 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Waste Connections by 49.0% in the fourth quarter. Proficio Capital Partners LLC now owns 465 shares of the business services provider’s stock valued at $35,000 after buying an additional 153 shares during the last quarter. Finally, Cable Hill Partners LLC lifted its stake in Waste Connections by 325.6% in the first quarter. Cable Hill Partners LLC now owns 566 shares of the business services provider’s stock valued at $50,000 after buying an additional 433 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Bank of America restated a “buy” rating and set a $98.00 price objective (up from $88.00) on shares of Waste Connections in a research note on Thursday, April 25th. AltaCorp Capital cut shares of Waste Connections from an “outperform” rating to a “sector perform” rating in a research note on Thursday, April 25th. Zacks Investment Research cut shares of Waste Connections from a “hold” rating to a “sell” rating in a research note on Saturday, April 27th. TD Securities lifted their price objective on shares of Waste Connections from $88.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada lifted their price objective on shares of Waste Connections from $90.00 to $104.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Waste Connections has an average rating of “Buy” and a consensus price target of $95.40.
Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, April 24th. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Waste Connections had a return on equity of 10.58% and a net margin of 10.89%. Waste Connections’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. Sell-side analysts expect that Waste Connections Inc will post 2.77 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Tuesday, May 7th. Waste Connections’s payout ratio is currently 25.40%.
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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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