Thrivent Financial For Lutherans lifted its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 54.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 629,775 shares of the business services provider’s stock after buying an additional 222,182 shares during the quarter. Thrivent Financial For Lutherans owned approximately 0.24% of Waste Connections worth $40,570,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Swiss National Bank raised its stake in shares of Waste Connections by 54.7% during the 2nd quarter. Swiss National Bank now owns 961,659 shares of the business services provider’s stock worth $61,950,000 after buying an additional 340,053 shares during the period. Sentry Investments Corp. raised its stake in shares of Waste Connections by 37.4% during the 2nd quarter. Sentry Investments Corp. now owns 2,973,999 shares of the business services provider’s stock worth $248,418,000 after buying an additional 810,130 shares during the period. Eagle Asset Management Inc. raised its stake in shares of Waste Connections by 50.1% during the 2nd quarter. Eagle Asset Management Inc. now owns 4,215,071 shares of the business services provider’s stock worth $271,534,000 after buying an additional 1,406,214 shares during the period. Pinnacle Associates Ltd. acquired a new position in shares of Waste Connections during the 1st quarter worth approximately $219,000. Finally, Edge Asset Management Inc. raised its stake in shares of Waste Connections by 0.3% during the 1st quarter. Edge Asset Management Inc. now owns 601,998 shares of the business services provider’s stock worth $53,108,000 after buying an additional 1,842 shares during the period. 82.81% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on WCN shares. TD Securities upped their target price on Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 target price on shares of Waste Connections in a research note on Tuesday, August 29th. Barclays PLC upped their target price on Waste Connections from $70.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Zacks Investment Research downgraded Waste Connections from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Finally, Royal Bank Of Canada set a $102.00 target price on Waste Connections and gave the stock an “outperform” rating in a research note on Monday, June 19th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $71.48.
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Waste Connections, Inc. (WCN) traded up 0.53% on Friday, reaching $69.59. The company had a trading volume of 930,263 shares. Waste Connections, Inc. has a 52-week low of $47.81 and a 52-week high of $69.80. The company’s 50-day moving average is $65.66 and its 200-day moving average is $62.65. The company has a market capitalization of $18.33 billion, a PE ratio of 59.18 and a beta of 0.24.
Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Waste Connections had a return on equity of 9.19% and a net margin of 7.11%. Waste Connections’s revenue was up 61.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. Equities analysts anticipate that Waste Connections, Inc. will post $2.13 EPS for the current fiscal year.
Waste Connections declared that its board has authorized a share buyback program on Wednesday, August 2nd that authorizes the company to repurchase 13,180,000 shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, August 4th. This represents a $0.48 annualized dividend and a yield of 0.69%. Waste Connections’s dividend payout ratio is presently 32.11%.
In other news, insider James Little sold 3,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $64.81, for a total value of $194,430.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Worthing Jackman sold 30,000 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $65.00, for a total value of $1,950,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,500 shares of company stock valued at $4,521,285. 0.68% of the stock is currently owned by insiders.
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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