Tobam raised its stake in shares of Waste Connections Inc (NYSE:WCN) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 761,746 shares of the business services provider’s stock after buying an additional 9,079 shares during the period. Waste Connections makes up 2.6% of Tobam’s portfolio, making the stock its 7th largest position. Tobam owned about 0.43% of Waste Connections worth $67,202,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. World Asset Management Inc boosted its position in Waste Connections by 1.4% in the first quarter. World Asset Management Inc now owns 10,928 shares of the business services provider’s stock valued at $964,000 after buying an additional 148 shares in the last quarter. Sprott Inc. boosted its position in Waste Connections by 1.4% in the first quarter. Sprott Inc. now owns 14,675 shares of the business services provider’s stock worth $1,295,000 after buying an additional 200 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Waste Connections by 2.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 8,391 shares of the business services provider’s stock worth $659,000 after buying an additional 222 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Waste Connections by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,678 shares of the business services provider’s stock worth $386,000 after buying an additional 256 shares in the last quarter. Finally, Henderson Group PLC boosted its position in Waste Connections by 2.9% in the third quarter. Henderson Group PLC now owns 10,132 shares of the business services provider’s stock worth $757,000 after buying an additional 283 shares in the last quarter. 85.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waste Connections Inc (NYSE:WCN) traded up 0.20% on Friday, reaching $91.90. 469,940 shares of the company’s stock traded hands. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 71.08 and a beta of 0.26. The stock’s 50-day moving average price is $90.35 and its 200-day moving average price is $83.16. Waste Connections Inc has a 52 week low of $65.44 and a 52 week high of $93.81. Waste Connections’s stock is scheduled to split on the morning of Monday, June 19th. The 3-2 split was announced on Wednesday, April 26th. The newly issued shares will be payable to shareholders after the market closes on Friday, June 16th.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, April 26th. The business services provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.05. Waste Connections had a net margin of 5.77% and a return on equity of 8.53%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted $0.45 EPS. The company’s quarterly revenue was up 112.0% compared to the same quarter last year. Equities analysts predict that Waste Connections Inc will post $3.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, May 8th. Waste Connections’s payout ratio is currently 47.04%.
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A number of equities analysts have weighed in on WCN shares. Royal Bank of Canada reduced their price objective on shares of Waste Connections from $102.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, April 28th. Barclays PLC restated a “buy” rating on shares of Waste Connections in a research report on Friday, April 28th. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Tuesday, February 14th. Wedbush restated an “outperform” rating and set a $93.00 price objective (up from $85.00) on shares of Waste Connections in a research report on Wednesday, February 22nd. Finally, TD Securities reduced their price objective on shares of Waste Connections from $100.00 to $95.00 and set a “hold” rating for the company in a research report on Friday, April 28th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Waste Connections currently has a consensus rating of “Buy” and a consensus target price of $91.58.
In other news, Director Susan Lee bought 1,200 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average price of $92.05 per share, for a total transaction of $110,460.00. Following the acquisition, the director now owns 3,679 shares of the company’s stock, valued at $338,651.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.68% of the stock is currently owned by insiders.
Waste Connections Company Profile
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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