Two Sigma Investments LP increased its stake in Waste Connections Inc (NYSE:WCN) by 63.1% in the 4th quarter, Holdings Channel reports. The firm owned 755,352 shares of the business services provider’s stock after purchasing an additional 292,343 shares during the period. Two Sigma Investments LP’s holdings in Waste Connections were worth $53,634,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of WCN. Advisors Asset Management Inc. acquired a new stake in Waste Connections in the 3rd quarter worth approximately $103,000. Cerebellum GP LLC acquired a new stake in Waste Connections in the 4th quarter worth approximately $125,000. SG Americas Securities LLC acquired a new stake in Waste Connections in the 4th quarter worth approximately $194,000. Timber Hill LLC acquired a new stake in Waste Connections in the 4th quarter worth approximately $206,000. Finally, Advisor Partners LLC acquired a new stake in Waste Connections in the 4th quarter worth approximately $216,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.
WCN has been the subject of several analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $85.00 target price on shares of Waste Connections in a report on Thursday, January 4th. Bank of America initiated coverage on Waste Connections in a report on Thursday, December 28th. They issued a “buy” rating and a $80.00 target price for the company. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Monday, February 19th. Credit Suisse Group set a $80.00 target price on Waste Connections and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, BMO Capital Markets initiated coverage on Waste Connections in a report on Monday, December 11th. They issued an “outperform” rating and a $79.00 target price for the company. Two equities research 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. Waste Connections presently has an average rating of “Buy” and a consensus target price of $78.22.
Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, February 14th. The business services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $1.16 billion for 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 company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. sell-side analysts expect that Waste Connections Inc will post 2.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 28th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, February 27th. Waste Connections’s dividend payout ratio is currently 25.65%.
In other news, VP David Eddie sold 6,071 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $71.06, for a total transaction of $431,405.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Little sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $70.49, for a total value of $352,450.00. Following the sale, the insider now owns 25,709 shares in the company, valued at $1,812,227.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,571 shares of company stock worth $4,911,600. Company insiders own 0.60% of the company’s stock.
Waste Connections Profile
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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