Jefferies Group LLC lessened its holdings in shares of Waste Connections Inc (NYSE:WCN) by 31.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,992 shares of the business services provider’s stock after selling 7,873 shares during the quarter. Jefferies Group LLC’s holdings in Waste Connections were worth $1,205,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Carillon Tower Advisers Inc. acquired a new stake in Waste Connections during the fourth quarter worth $145,602,000. Picton Mahoney Asset Management boosted its stake in shares of Waste Connections by 1,175.8% in the 4th quarter. Picton Mahoney Asset Management now owns 1,286,014 shares of the business services provider’s stock valued at $112,875,000 after purchasing an additional 1,185,214 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Waste Connections by 28.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,856,170 shares of the business services provider’s stock valued at $273,557,000 after purchasing an additional 864,008 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Waste Connections by 39.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,786,911 shares of the business services provider’s stock valued at $197,732,000 after purchasing an additional 794,700 shares in the last quarter. Finally, Ascend Capital LLC boosted its stake in shares of Waste Connections by 200.4% in the 4th quarter. Ascend Capital LLC now owns 931,327 shares of the business services provider’s stock valued at $66,067,000 after purchasing an additional 621,290 shares in the last quarter. 84.21% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:WCN traded down $0.39 during trading hours on Friday, reaching $72.36. 899,530 shares of the stock were exchanged, compared to its average volume of 739,177. Waste Connections Inc has a twelve month low of $58.33 and a twelve month high of $74.59. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. The company has a market cap of $19,181.67, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.67 and a beta of 0.18.
Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 14th. The business services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Waste Connections had a return on equity of 9.63% and a net margin of 12.46%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. analysts anticipate that Waste Connections Inc will post 2.53 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 28th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Tuesday, February 27th. Waste Connections’s payout ratio is presently 25.93%.
Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Waste Connections from a “buy” rating to a “hold” rating and set a $78.00 target price on the stock. in a research note on Saturday, January 13th. UBS initiated coverage on Waste Connections in a report on Thursday, March 15th. They issued a “buy” rating and a $91.00 price target for the company. BMO Capital Markets initiated coverage on Waste Connections in a report on Monday, December 11th. They set an “outperform” rating and a $79.00 price objective for the company. Bank of America assumed coverage on Waste Connections in a report on Thursday, December 28th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 price target on shares of Waste Connections in a research note on Thursday, January 4th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $79.28.
In related news, CEO Ronald J. Mittelstaedt sold 45,000 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $73.32, for a total value of $3,299,400.00. Following the sale, the chief executive officer now owns 100,462 shares in the company, valued at approximately $7,365,873.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David Eddie sold 6,071 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.06, for a total value of $431,405.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,571 shares of company stock worth $4,911,600. 0.68% of the stock is owned by company insiders.
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About Waste Connections
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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