Oppenheimer & Co. Inc. decreased its stake in shares of Waste Connections Inc (NYSE:WCN) by 27.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,645 shares of the business services provider’s stock after selling 4,014 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Waste Connections were worth $966,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Sandy Spring Bank grew its position in shares of Waste Connections by 137.1% during the 4th quarter. Sandy Spring Bank now owns 313 shares of the business services provider’s stock worth $28,000 after buying an additional 181 shares during the period. Quadrant Capital Group LLC grew its position in Waste Connections by 279.6% in 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 during the period. TRUE Private Wealth Advisors acquired a new stake in Waste Connections in the 4th quarter valued at $63,000. Parallel Advisors LLC grew its position in Waste Connections by 88.1% in 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 during the period. Finally, Signaturefd LLC grew its position in Waste Connections by 35.6% in the 4th quarter. Signaturefd LLC now owns 1,463 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 384 shares during the period. 78.50% of the stock is owned by institutional investors.
In other Waste Connections news, SVP Eric Hansen sold 5,000 shares of Waste Connections stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $104.28, for a total transaction of $521,400.00. Following the completion of the transaction, the senior vice president now owns 6,867 shares of the company’s stock, valued at approximately $716,090.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by insiders.
Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, February 12th. The business services provider reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.07. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. Waste Connections had a return on equity of 10.66% and a net margin of 10.52%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. As a group, equities analysts expect that Waste Connections Inc will post 2.92 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.14. Waste Connections’s payout ratio is presently 27.21%.
WCN has been the topic of several recent analyst reports. ValuEngine upgraded Waste Connections from a “sell” rating to a “hold” rating in a research note on Wednesday, December 18th. Zacks Investment Research cut Waste Connections from a “buy” rating to a “hold” rating and set a $113.00 target price on the stock. in a research note on Wednesday, February 19th. KeyCorp lifted their target price on Waste Connections from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. cut Waste Connections from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $96.00 to $98.00 in a research note on Thursday, January 23rd. They noted that the move was a valuation call. Finally, Bank of America lifted their target price on Waste Connections from $98.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $105.35.
About Waste Connections
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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