Bank of Nova Scotia grew its stake in Waste Connections Inc (NYSE:WCN) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 633,499 shares of the business services provider’s stock after purchasing an additional 37,784 shares during the quarter. Bank of Nova Scotia owned approximately 0.24% of Waste Connections worth $47,456,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Zions Bancorporation bought a new position in shares of Waste Connections in the second quarter valued at approximately $178,000. Jaffetilchin Investment Partners LLC bought a new position in shares of Waste Connections in the second quarter valued at approximately $203,000. Trexquant Investment LP bought a new position in shares of Waste Connections in the second quarter valued at approximately $216,000. Cumberland Partners Ltd bought a new position in shares of Waste Connections in the second quarter valued at approximately $236,000. Finally, Natixis bought a new position in shares of Waste Connections in the second quarter valued at approximately $265,000. Institutional investors own 82.67% of the company’s stock.
Shares of WCN opened at $79.44 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market cap of $20.95 billion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 2.72 and a beta of 0.07. Waste Connections Inc has a 12 month low of $65.06 and a 12 month high of $81.36.
Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Tuesday, July 24th. The business services provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. Waste Connections had a return on equity of 9.90% and a net margin of 14.80%. Waste Connections’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. equities research analysts predict that Waste Connections Inc will post 2.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 21st. Investors of record on Tuesday, August 7th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Monday, August 6th. Waste Connections’s payout ratio is 25.93%.
A number of research firms have recently weighed in on WCN. TD Securities raised their target price on Waste Connections from $79.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Friday, May 25th. Royal Bank of Canada raised their target price on Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. BMO Capital Markets raised their target price on Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, June 29th. Finally, Citigroup raised their target price on Waste Connections from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $83.00.
In related news, COO Darrell W. Chambliss sold 6,485 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $80.00, for a total transaction of $518,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael W. Harlan sold 11,900 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $79.30, for a total value of $943,670.00. The disclosure for this sale can be found here. Insiders have sold 38,385 shares of company stock valued at $3,063,670 over the last ninety days. 0.40% of the stock is currently owned by company insiders.
Waste Connections Profile
Waste Connections, Inc, a solid waste services company, 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, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.
Featured Article: What are the Benefits of 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.