Gamco Investors INC. ET AL decreased its stake in shares of Waste Connections Inc (NYSE:WCN) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 403,997 shares of the business services provider’s stock after selling 10,514 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Waste Connections were worth $32,227,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Zions Bancorporation bought a new position in shares of Waste Connections during the 2nd quarter worth about $178,000. Nisa Investment Advisors LLC bought a new position in shares of Waste Connections during the 3rd quarter worth about $204,000. Jaffetilchin Investment Partners LLC bought a new position in shares of Waste Connections during the 2nd quarter worth about $203,000. Trexquant Investment LP bought a new position in shares of Waste Connections during the 2nd quarter worth about $216,000. Finally, Cumberland Partners Ltd acquired a new stake in shares of Waste Connections during the 2nd quarter valued at about $236,000. Institutional investors own 81.54% of the company’s stock.
In other Waste Connections news, COO Darrell W. Chambliss sold 6,485 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total value of $518,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David Eddie sold 20,000 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $80.06, for a total transaction of $1,601,200.00. Following the completion of the transaction, the vice president now directly owns 36,320 shares of the company’s stock, valued at $2,907,779.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,385 shares of company stock worth $3,063,670. Company insiders own 0.40% of the company’s stock.
Several analysts have recently weighed in on WCN shares. Citigroup lifted their target price on shares of Waste Connections from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Royal Bank of Canada lifted their target price on shares of Waste Connections from $84.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, October 31st. Zacks Investment Research lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. UBS Group set a $90.00 target price on shares of Waste Connections and gave the company a “buy” rating in a research report on Wednesday, October 31st. Finally, BMO Capital Markets lifted their target price on shares of Waste Connections from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $84.80.
Shares of Waste Connections stock opened at $75.28 on Wednesday. The stock has a market cap of $19.61 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.11. Waste Connections Inc has a twelve month low of $65.06 and a twelve month high of $81.36. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58.
Waste Connections (NYSE:WCN) last released its quarterly earnings results on Monday, October 29th. The business services provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.01. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Waste Connections had a net margin of 15.14% and a return on equity of 10.07%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. Research analysts forecast that Waste Connections Inc will post 2.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Tuesday, November 13th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 9th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 0.85%. Waste Connections’s payout ratio is 25.93%.
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About Waste Connections
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.
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