Bamco Inc. NY trimmed its position in shares of Waste Connections Inc (NYSE:WCN) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,200,000 shares of the business services provider’s stock after selling 25,000 shares during the period. Bamco Inc. NY owned approximately 0.46% of Waste Connections worth $108,948,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keebeck Wealth Management LLC acquired a new stake in Waste Connections during the 4th quarter valued at $27,000. Sandy Spring Bank grew its holdings in Waste Connections by 137.1% during the 4th quarter. Sandy Spring Bank now owns 313 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 181 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Waste Connections by 279.6% during the 4th quarter. Quadrant Capital Group LLC now owns 520 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 383 shares in the last quarter. TRUE Private Wealth Advisors acquired a new stake in Waste Connections during the 4th quarter valued at $63,000. Finally, Parallel Advisors LLC grew its holdings in Waste Connections by 88.1% during the 4th quarter. Parallel Advisors LLC now owns 824 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 386 shares in the last quarter. 84.60% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Eric Hansen sold 5,000 shares of Waste Connections stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $104.28, for a total value of $521,400.00. Following the completion of the transaction, the senior vice president now directly owns 6,867 shares of the company’s stock, valued at approximately $716,090.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.
Shares of WCN stock opened at $71.47 on Thursday. The firm has a market cap of $19.64 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.66 and a beta of 0.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.12 and a quick ratio of 1.12. Waste Connections Inc has a 1-year low of $70.87 and a 1-year high of $105.17. The firm has a fifty day moving average of $95.68 and a two-hundred day moving average of $92.86.
Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, February 12th. The business services provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.07. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. Waste Connections had a net margin of 10.52% and a return on equity of 10.66%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. On average, sell-side analysts expect that Waste Connections Inc will post 2.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 27th were issued a $0.185 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.14. This represents a $0.74 annualized dividend and a dividend yield of 1.04%. Waste Connections’s payout ratio is 27.21%.
A number of equities research analysts recently weighed in on WCN shares. Goldman Sachs Group lowered shares of Waste Connections from a “buy” rating to a “neutral” rating and set a $94.00 price target for the company. in a report on Friday, March 13th. JPMorgan Chase & Co. lowered shares of Waste Connections from an “overweight” rating to a “neutral” rating and raised their price target for the company from $96.00 to $98.00 in a report on Thursday, January 23rd. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating and set a $115.00 price objective on shares of Waste Connections in a report on Thursday, March 5th. Oppenheimer raised shares of Waste Connections from a “market perform” rating to an “outperform” rating in a report on Friday, February 28th. Finally, ValuEngine raised shares of Waste Connections from a “sell” rating to a “hold” rating in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $104.64.
Waste Connections 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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