TRUE Private Wealth Advisors acquired a new stake in shares of Waste Connections Inc (NYSE:WCN) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 700 shares of the business services provider’s stock, valued at approximately $66,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its stake in Waste Connections by 114.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 75,855 shares of the business services provider’s stock worth $7,327,000 after buying an additional 40,535 shares during the last quarter. Advisory Services Network LLC grew its stake in Waste Connections by 52.6% during the second quarter. Advisory Services Network LLC now owns 1,343 shares of the business services provider’s stock worth $128,000 after buying an additional 463 shares during the last quarter. TD Asset Management Inc. grew its stake in shares of Waste Connections by 1.0% during the second quarter. TD Asset Management Inc. now owns 5,327,644 shares of the business services provider’s stock valued at $509,942,000 after purchasing an additional 54,157 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Waste Connections during the second quarter valued at approximately $634,000. Finally, Signaturefd LLC grew its stake in shares of Waste Connections by 42.2% during the second quarter. Signaturefd LLC now owns 1,214 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 360 shares during the last quarter. 83.03% of the stock is owned by institutional investors and hedge funds.
In other Waste Connections news, VP Patrick James Shea sold 17,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $92.35, for a total value of $1,569,950.00. Following the sale, the vice president now directly owns 26,269 shares in the company, valued at $2,425,942.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Darrell W. Chambliss sold 14,100 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $89.55, for a total transaction of $1,262,655.00. Following the completion of the sale, the chief operating officer now owns 104,100 shares in the company, valued at $9,322,155. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,600 shares of company stock worth $4,766,745. Insiders own 0.30% of the company’s stock.
Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. Waste Connections had a net margin of 10.82% and a return on equity of 10.57%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm earned $0.65 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that Waste Connections Inc will post 2.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 12th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.64 dividend on an annualized basis and a yield of 0.70%. Waste Connections’s payout ratio is presently 25.40%.
Several analysts have recently commented on the stock. CIBC reissued a “market perform” rating on shares of Waste Connections in a research note on Thursday, July 18th. Scotiabank assumed coverage on shares of Waste Connections in a research note on Tuesday, April 23rd. They set an “outperform” rating and a $89.25 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Waste Connections in a research note on Wednesday, August 7th. They set an “overweight” rating and a $98.00 price target on the stock. Royal Bank of Canada set a $100.00 price target on shares of Waste Connections and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, ValuEngine cut shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $96.40.
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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