National Pension Service increased its position in shares of Waste Connections Inc (NYSE:WCN) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 349,242 shares of the business services provider’s stock after acquiring an additional 18,201 shares during the quarter. National Pension Service owned about 0.13% of Waste Connections worth $33,381,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its holdings in shares of Waste Connections by 3.7% during the first quarter. Nomura Asset Management Co. Ltd. now owns 45,724 shares of the business services provider’s stock worth $4,051,000 after buying an additional 1,624 shares in the last quarter. Scotia Capital Inc. grew its stake in Waste Connections by 19.1% in the second quarter. Scotia Capital Inc. now owns 181,058 shares of the business services provider’s stock valued at $17,257,000 after purchasing an additional 29,098 shares in the last quarter. Allstate Corp grew its stake in Waste Connections by 0.5% in the first quarter. Allstate Corp now owns 28,753 shares of the business services provider’s stock valued at $2,547,000 after purchasing an additional 133 shares in the last quarter. Eagle Asset Management Inc. grew its stake in Waste Connections by 1.8% in the second quarter. Eagle Asset Management Inc. now owns 2,239,464 shares of the business services provider’s stock valued at $213,989,000 after purchasing an additional 38,694 shares in the last quarter. Finally, Natixis Advisors L.P. grew its stake in Waste Connections by 5.8% in the second quarter. Natixis Advisors L.P. now owns 52,313 shares of the business services provider’s stock valued at $5,000,000 after purchasing an additional 2,856 shares in the last quarter. 82.51% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on WCN shares. Royal Bank of Canada set a $100.00 price target on Waste Connections and gave the company a “buy” rating in a research note on Wednesday, July 31st. Macquarie assumed coverage on Waste Connections in a research note on Tuesday, September 3rd. They set a “buy” rating and a $100.00 target price for the company. Oppenheimer reiterated a “market perform” rating on shares of Waste Connections in a research note on Thursday, July 18th. JPMorgan Chase & Co. assumed coverage on Waste Connections in a research note on Wednesday, August 7th. They set an “overweight” rating and a $98.00 target price for the company. Finally, BMO Capital Markets set a $105.00 target price on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $96.66.
Waste Connections (NYSE:WCN) last released its quarterly earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.69. The business had revenue of $1.37 billion during 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 firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. On average, analysts predict that Waste Connections Inc will post 2.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 12th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.64 annualized dividend and a yield of 0.71%. Waste Connections’s payout ratio is currently 25.40%.
In related news, Director William J. Razzouk sold 6,000 shares of Waste Connections stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $90.29, for a total transaction of $541,740.00. Following the completion of the sale, the director now directly owns 13,919 shares of the company’s stock, valued at approximately $1,256,746.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Darrell W. Chambliss sold 14,100 shares of Waste Connections stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $89.55, for a total value of $1,262,655.00. Following the sale, the chief operating officer now directly owns 104,100 shares of the company’s stock, valued at $9,322,155. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,638 shares of company stock valued at $7,128,039. 0.30% of the stock is currently owned by insiders.
Waste Connections Company 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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