Copeland Capital Management LLC lessened its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,919 shares of the business services provider’s stock after selling 4,974 shares during the period. Waste Connections makes up 1.5% of Copeland Capital Management LLC’s holdings, making the stock its 13th biggest position. Copeland Capital Management LLC owned approximately 0.12% of Waste Connections worth $22,452,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Thompson Davis & CO. Inc. raised its holdings in shares of Waste Connections by 55.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock worth $101,000 after purchasing an additional 559 shares during the last quarter. Independent Portfolio Consultants Inc. raised its holdings in shares of Waste Connections by 10.1% during the second quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock worth $118,000 after purchasing an additional 168 shares during the last quarter. Fieldpoint Private Securities LLC raised its holdings in shares of Waste Connections by 50.0% during the second quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock worth $136,000 after purchasing an additional 702 shares during the last quarter. US Bancorp DE raised its holdings in shares of Waste Connections by 14.3% during the second quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock worth $140,000 after purchasing an additional 271 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of Waste Connections by 223.5% during the second quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock worth $154,000 after purchasing an additional 1,656 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.
Waste Connections, Inc. (WCN) traded down 0.13% on Tuesday, reaching $70.99. 299,235 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $70.00 and a 200-day moving average price of $65.38. The company has a market capitalization of $18.70 billion, a P/E ratio of 60.37 and a beta of 0.23. Waste Connections, Inc. has a 1-year low of $48.78 and a 1-year high of $74.20.
Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, October 25th. The business services provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business earned $0.72 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Equities research analysts expect that Waste Connections, Inc. will post $2.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Tuesday, November 7th. This is a boost from Waste Connections’s previous quarterly dividend of $0.12. Waste Connections’s dividend payout ratio (DPR) is 36.36%.
Waste Connections declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 2nd that authorizes the company to repurchase 13,180,000 shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Edward E. Guillet sold 11,500 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $65.27, for a total value of $750,605.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Davis sold 700 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $71.72, for a total transaction of $50,204.00. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.
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Several brokerages recently issued reports on WCN. BidaskClub cut shares of Waste Connections from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Credit Suisse Group set a $82.00 target price on shares of Waste Connections and gave the stock a “buy” rating in a report on Tuesday. Barclays PLC set a $70.00 target price on shares of Waste Connections and gave the stock a “buy” rating in a report on Wednesday, July 26th. KeyCorp raised their target price on shares of Waste Connections from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. Finally, Zacks Investment Research raised shares of Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a report on Monday, July 31st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Waste Connections currently has a consensus rating of “Buy” and an average target price of $76.24.
About Waste Connections
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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