Northstar Asset Management LLC lessened its stake in shares of Waste Connections Inc (NYSE:WCN) by 0.9% in the third quarter, Holdings Channel reports. The institutional investor owned 18,250 shares of the business services provider’s stock after selling 175 shares during the period. Northstar Asset Management LLC’s holdings in Waste Connections were worth $1,679,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of WCN. Marshall Wace LLP bought a new position in Waste Connections during the 1st quarter valued at approximately $477,000. Clearbridge Investments LLC increased its position in Waste Connections by 47.9% during the 1st quarter. Clearbridge Investments LLC now owns 491,981 shares of the business services provider’s stock valued at $43,585,000 after buying an additional 159,287 shares in the last quarter. FMR LLC increased its position in Waste Connections by 50.3% during the 1st quarter. FMR LLC now owns 3,455,088 shares of the business services provider’s stock valued at $306,071,000 after buying an additional 1,155,609 shares in the last quarter. First Trust Advisors LP bought a new position in Waste Connections during the 1st quarter valued at approximately $482,000. Finally, Dorsey Wright & Associates increased its position in Waste Connections by 0.5% during the 2nd quarter. Dorsey Wright & Associates now owns 88,355 shares of the business services provider’s stock valued at $8,445,000 after buying an additional 463 shares in the last quarter. 82.55% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on WCN shares. Raymond James raised their price objective on Waste Connections from $105.00 to $106.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 31st. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Connections in a research report on Thursday, July 18th. ValuEngine lowered Waste Connections from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. assumed coverage on Waste Connections in a research report on Wednesday, August 7th. They set an “overweight” rating and a $98.00 price objective for the company. Finally, CIBC reissued a “market perform” rating on shares of Waste Connections in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $96.66.
Shares of Waste Connections stock traded up $1.95 on Friday, reaching $94.20. The company’s stock had a trading volume of 779,087 shares, compared to its average volume of 661,875. The company has a market capitalization of $24.33 billion, a price-to-earnings ratio of 35.08, a P/E/G ratio of 3.07 and a beta of 0.19. The firm’s fifty day simple moving average is $91.18 and its two-hundred day simple moving average is $92.36. Waste Connections Inc has a 52 week low of $70.28 and a 52 week high of $97.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64.
Waste Connections (NYSE:WCN) last posted its earnings results on Monday, July 29th. The business services provider reported $0.69 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.69. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. As a group, research analysts predict that Waste Connections Inc will post 2.66 EPS for the current year.
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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