Middleton & Co Inc MA bought a new stake in Waste Connections Inc (NYSE:WCN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,995 shares of the business services provider’s stock, valued at approximately $477,000.
Several other large investors have also made changes to their positions in the company. Baskin Financial Services Inc. grew its position in shares of Waste Connections by 3.2% during the 2nd quarter. Baskin Financial Services Inc. now owns 255,414 shares of the business services provider’s stock worth $24,399,000 after buying an additional 8,000 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Waste Connections by 10.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 139,739 shares of the business services provider’s stock valued at $13,357,000 after purchasing an additional 13,592 shares in the last quarter. BB&T Corp lifted its holdings in shares of Waste Connections by 18.8% during the 2nd quarter. BB&T Corp now owns 6,526 shares of the business services provider’s stock valued at $624,000 after purchasing an additional 1,033 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in shares of Waste Connections by 2.2% during the 2nd quarter. Confluence Investment Management LLC now owns 20,395 shares of the business services provider’s stock valued at $1,949,000 after purchasing an additional 436 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Waste Connections by 8.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the business services provider’s stock valued at $1,334,000 after purchasing an additional 1,095 shares in the last quarter. Institutional investors own 83.23% of the company’s stock.
Several research firms have recently weighed in on WCN. Bank of America reiterated a “buy” rating and set a $98.00 price objective (up previously from $88.00) on shares of Waste Connections in a report on Thursday, April 25th. AltaCorp Capital cut Waste Connections from an “outperform” rating to a “sector perform” rating in a report on Thursday, April 25th. Oppenheimer reiterated a “market perform” rating on shares of Waste Connections in a report on Thursday, July 18th. ValuEngine cut Waste Connections from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Royal Bank of Canada set a $100.00 price objective on Waste Connections and gave the company a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $96.27.
NYSE WCN opened at $89.23 on Monday. The company has a market cap of $23.74 billion, a PE ratio of 35.41, a price-to-earnings-growth ratio of 2.91 and a beta of 0.20. The company has a 50 day moving average price of $95.19. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.47. Waste Connections Inc has a 52 week low of $70.28 and a 52 week high of $97.93.
Waste Connections (NYSE:WCN) last released its earnings results on Monday, July 29th. The business services provider reported $0.69 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.69. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 EPS. Sell-side analysts forecast that Waste Connections Inc will post 2.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 12th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, August 9th. Waste Connections’s payout ratio is 25.40%.
Waste Connections Profile
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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