United Capital Financial Advisers LLC grew its position in Waste Connections Inc (NYSE:WCN) by 249.3% during the second quarter, Holdings Channel.com reports. The firm owned 10,221 shares of the business services provider’s stock after acquiring an additional 7,295 shares during the period. United Capital Financial Advisers LLC’s holdings in Waste Connections were worth $977,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Waste Connections by 3.7% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 45,724 shares of the business services provider’s stock valued at $4,051,000 after purchasing an additional 1,624 shares in the last quarter. Scotia Capital Inc. raised its stake in Waste Connections by 19.1% during the 2nd quarter. Scotia Capital Inc. now owns 181,058 shares of the business services provider’s stock worth $17,257,000 after acquiring an additional 29,098 shares in the last quarter. Allstate Corp raised its stake in Waste Connections by 0.5% during the 1st quarter. Allstate Corp now owns 28,753 shares of the business services provider’s stock worth $2,547,000 after acquiring an additional 133 shares in the last quarter. Eagle Asset Management Inc. raised its stake in Waste Connections by 1.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,239,464 shares of the business services provider’s stock worth $213,989,000 after acquiring an additional 38,694 shares in the last quarter. Finally, Natixis Advisors L.P. raised its stake in Waste Connections by 5.8% during the 2nd quarter. Natixis Advisors L.P. now owns 52,313 shares of the business services provider’s stock worth $5,000,000 after acquiring an additional 2,856 shares in the last quarter. Institutional investors and hedge funds own 82.51% of the company’s stock.
Several equities research analysts recently commented on WCN shares. JPMorgan Chase & Co. started 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. BMO Capital Markets set a $105.00 price objective on shares of Waste Connections and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada set a $100.00 price objective on shares of Waste Connections and gave the company a “buy” rating in a research note on Wednesday, July 31st. CIBC restated a “market perform” rating on shares of Waste Connections in a research note on Thursday, July 18th. Finally, Macquarie assumed coverage on shares of Waste Connections in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $96.66.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Monday, July 29th. The business services provider reported $0.69 EPS for the quarter, meeting analysts’ consensus estimates of $0.69. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Waste Connections had a net margin of 10.82% and a return on equity of 10.57%. Waste Connections’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, sell-side analysts forecast that Waste Connections Inc will post 2.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 12th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Friday, August 9th. Waste Connections’s payout ratio is 25.40%.
In other news, Director William J. Razzouk sold 6,000 shares of Waste Connections stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $90.29, for a total value of $541,740.00. Following the sale, the director now owns 13,919 shares of the company’s stock, valued at $1,256,746.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael W. Harlan sold 2,038 shares of Waste Connections stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $91.43, for a total transaction of $186,334.34. Following the completion of the sale, the director now directly owns 17,425 shares in the company, valued at approximately $1,593,167.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,638 shares of company stock worth $7,128,039. Insiders own 0.30% of the company’s stock.
Waste Connections Company 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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