Bluestein R H & Co. lowered its stake in shares of Waste Connections Inc (NYSE:WCN) by 33.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the business services provider’s stock after selling 2,500 shares during the quarter. Bluestein R H & Co.’s holdings in Waste Connections were worth $350,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Stifel Financial Corp grew its holdings in Waste Connections by 2.5% during the third quarter. Stifel Financial Corp now owns 73,147 shares of the business services provider’s stock worth $5,106,000 after buying an additional 1,753 shares in the last quarter. Brown Advisory Inc. boosted its position in Waste Connections by 4.2% in the third quarter. Brown Advisory Inc. now owns 1,973,657 shares of the business services provider’s stock worth $138,085,000 after purchasing an additional 80,424 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Waste Connections by 0.5% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 803,891 shares of the business services provider’s stock worth $56,240,000 after purchasing an additional 4,320 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Waste Connections in the third quarter worth $557,000. Finally, Dai Ichi Life Insurance Company Ltd boosted its position in Waste Connections by 21.5% in the third quarter. Dai Ichi Life Insurance Company Ltd now owns 4,473 shares of the business services provider’s stock worth $313,000 after purchasing an additional 791 shares during the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.
In other news, Director Robert Davis sold 700 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $71.72, for a total transaction of $50,204.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Darrell W. Chambliss sold 5,625 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $70.99, for a total value of $399,318.75. Following the transaction, the chief operating officer now directly owns 101,292 shares in the company, valued at approximately $7,190,719.08. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.
Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Waste Connections had a return on equity of 9.59% and a net margin of 7.68%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. research analysts forecast that Waste Connections Inc will post 2.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Tuesday, November 7th. This is a boost from Waste Connections’s previous quarterly dividend of $0.12. Waste Connections’s dividend payout ratio is currently 42.42%.
Several research analysts have weighed in on the company. Credit Suisse Group set a $82.00 price objective on Waste Connections and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. KeyCorp boosted their price objective on Waste Connections from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Oppenheimer boosted their price objective on Waste Connections from $74.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Royal Bank Of Canada boosted their price objective on Waste Connections from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research cut Waste Connections from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Waste Connections currently has a consensus rating of “Buy” and an average price target of $77.87.
Waste Connections Company 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.
What are top analysts saying about Waste Connections Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Waste Connections Inc and related companies.