Manning & Napier Advisors LLC bought a new position in Waste Connections, Inc. (NYSE:WCN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 46,114 shares of the business services provider's stock, valued at approximately $7,491,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Waste Connections during the 1st quarter valued at about $577,000. Invesco Ltd. lifted its position in Waste Connections by 12.8% during the second quarter. Invesco Ltd. now owns 219,290 shares of the business services provider's stock valued at $40,946,000 after purchasing an additional 24,948 shares during the period. First Trust Advisors LP boosted its holdings in Waste Connections by 2.9% in the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider's stock worth $4,572,000 after purchasing an additional 688 shares during the last quarter. Jump Financial LLC bought a new stake in Waste Connections in the 2nd quarter worth approximately $2,714,000. Finally, State Street Corp raised its stake in Waste Connections by 1.0% during the 2nd quarter. State Street Corp now owns 1,808,631 shares of the business services provider's stock valued at $337,708,000 after buying an additional 17,197 shares during the last quarter. 86.09% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Waste Connections from $195.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. BMO Capital Markets reissued an "outperform" rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Barclays set a $180.00 price target on Waste Connections and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. The Goldman Sachs Group reiterated a "buy" rating and issued a $211.00 price objective on shares of Waste Connections in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.79.
Check Out Our Latest Analysis on Waste Connections
Waste Connections Price Performance
NYSE:WCN traded up $1.01 during trading hours on Friday, hitting $171.15. 1,028,883 shares of the stock traded hands, compared to its average volume of 1,603,354. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $191.91. The company has a market cap of $43.42 billion, a price-to-earnings ratio of 41.74, a price-to-earnings-growth ratio of 3.04 and a beta of 0.49. The stock has a 50 day moving average price of $158.28 and a 200 day moving average price of $163.76.
Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm earned $1.13 EPS. The company's revenue was up 6.4% on a year-over-year basis. Sell-side analysts forecast that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.
Waste Connections Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections's dividend payout ratio (DPR) is currently 34.15%.
Insider Activity
In related news, SVP Eric Hansen sold 6,000 shares of Waste Connections stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total transaction of $988,920.00. Following the sale, the senior vice president owned 13,350 shares of the company's stock, valued at approximately $2,200,347. This trade represents a 31.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Patrick James Shea sold 7,500 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the transaction, the vice president owned 19,737 shares of the company's stock, valued at $3,084,103.62. The trade was a 27.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,605 shares of company stock valued at $2,822,923 in the last three months. 0.27% of the stock is currently owned by insiders.
About Waste Connections
(
Free Report)
Waste Connections NYSE: WCN is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.
The company's operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.
Further Reading
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