Seven Eight Capital LP raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) by 83.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,997 shares of the business services provider’s stock after purchasing an additional 4,534 shares during the quarter. Seven Eight Capital LP’s holdings in Waste Connections were worth $1,390,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. West Oak Capital LLC acquired a new stake in Waste Connections during the 1st quarter valued at $28,000. International Assets Investment Management LLC acquired a new stake in Waste Connections during the 1st quarter valued at $31,000. Zions Bancorporation N.A. lifted its holdings in Waste Connections by 172.2% during the 4th quarter. Zions Bancorporation N.A. now owns 294 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 186 shares during the last quarter. Quent Capital LLC lifted its holdings in Waste Connections by 8,800.0% during the 1st quarter. Quent Capital LLC now owns 356 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 352 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Waste Connections by 53.0% during the 4th quarter. First Horizon Advisors Inc. now owns 433 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on WCN shares. Raymond James dropped their target price on Waste Connections from $165.00 to $163.00 and set a “strong-buy” rating for the company in a report on Friday, August 4th. Morgan Stanley lifted their target price on Waste Connections from $164.00 to $171.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Citigroup lifted their target price on Waste Connections from $155.00 to $156.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. CIBC lifted their target price on Waste Connections from $155.00 to $156.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, StockNews.com started coverage on Waste Connections in a report on Sunday, August 20th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Waste Connections has a consensus rating of “Moderate Buy” and an average target price of $160.08.
Waste Connections Stock Down 0.7 %
Shares of NYSE WCN opened at $137.84 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.90. The company has a market cap of $35.51 billion, a price-to-earnings ratio of 42.41, a PEG ratio of 3.02 and a beta of 0.67. Waste Connections, Inc. has a 12 month low of $124.23 and a 12 month high of $148.20. The stock has a 50-day moving average price of $140.12 and a two-hundred day moving average price of $138.68.
Waste Connections (NYSE:WCN – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The business services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.01 billion. Waste Connections had a return on equity of 14.01% and a net margin of 10.93%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. As a group, analysts forecast that Waste Connections, Inc. will post 4.19 earnings per share for the current fiscal year.
Waste Connections Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 0.74%. The ex-dividend date was Tuesday, August 15th. Waste Connections’s payout ratio is 31.38%.
Insiders Place Their Bets
In other Waste Connections news, VP James Little sold 3,200 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $137.97, for a total transaction of $441,504.00. Following the completion of the transaction, the vice president now owns 26,210 shares of the company’s stock, valued at $3,616,193.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.
Waste Connections Profile
Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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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