EFG Asset Management Americas Corp. raised its stake in shares of Waste Connections Inc (NYSE:WCN) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,492 shares of the business services provider’s stock after purchasing an additional 407 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Waste Connections were worth $2,529,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. First Trust Advisors LP bought a new position in Waste Connections in the 1st quarter worth about $482,000. Dorsey Wright & Associates increased its position in shares of Waste Connections by 0.5% during the 2nd quarter. Dorsey Wright & Associates now owns 88,355 shares of the business services provider’s stock valued at $8,445,000 after purchasing an additional 463 shares during the last quarter. DNB Asset Management AS increased its position in shares of Waste Connections by 13.4% during the 2nd quarter. DNB Asset Management AS now owns 43,339 shares of the business services provider’s stock valued at $4,142,000 after purchasing an additional 5,105 shares during the last quarter. Altman Advisors Inc. increased its holdings in Waste Connections by 83.4% in the 2nd quarter. Altman Advisors Inc. now owns 20,022 shares of the business services provider’s stock worth $1,914,000 after acquiring an additional 9,103 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in Waste Connections by 30.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,279 shares of the business services provider’s stock worth $122,000 after acquiring an additional 296 shares in the last quarter. 83.05% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on WCN shares. BMO Capital Markets set a $105.00 price target on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus set a $105.00 price target on Waste Connections and gave the stock a “buy” rating in a research note on Monday, September 23rd. Oppenheimer restated a “market perform” rating on shares of Waste Connections in a research note on Thursday, July 18th. Royal Bank of Canada set a $100.00 price target on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Macquarie started coverage on Waste Connections in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $100.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Waste Connections presently has an average rating of “Buy” and an average target price of $97.66.
In related news, Director Edward E. Guillet sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $90.41, for a total value of $1,808,200.00. Following the completion of the sale, the director now directly owns 41,173 shares in the company, valued at $3,722,450.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael W. Harlan sold 2,038 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $91.43, for a total value of $186,334.34. Following the completion of the sale, the director now owns 17,425 shares of the company’s stock, valued at $1,593,167.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,038 shares of company stock valued at $2,361,294. 0.30% of the stock is owned by corporate insiders.
Shares of NYSE WCN traded down $0.08 during midday trading on Tuesday, reaching $88.48. 26,282 shares of the stock traded hands, compared to its average volume of 860,542. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $23.33 billion, a PE ratio of 35.12, a P/E/G ratio of 3.84 and a beta of 0.16. Waste Connections Inc has a one year low of $70.28 and a one year high of $97.93. The company’s 50 day moving average is $91.63 and its 200 day moving average is $92.74.
Waste Connections (NYSE:WCN) last posted its earnings results on Monday, October 28th. The business services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. Waste Connections had a return on equity of 10.62% and a net margin of 10.70%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. As a group, equities analysts forecast that Waste Connections Inc will post 2.63 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a $0.14 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.56 dividend on an annualized basis and a yield of 0.63%. Waste Connections’s dividend payout ratio is presently 29.37%.
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.
Read More: Hedge Funds – Risk or Reward?
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.