Danske Bank A S acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 198,036 shares of the business services provider's stock, valued at approximately $33,011,000. Danske Bank A S owned 0.08% of Waste Connections at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Waste Connections during the first quarter valued at about $577,000. Invesco Ltd. increased its stake in shares of Waste Connections by 12.8% in the second quarter. Invesco Ltd. now owns 219,290 shares of the business services provider's stock worth $40,946,000 after purchasing an additional 24,948 shares during the period. First Trust Advisors LP lifted its position in shares of Waste Connections by 2.9% during the 2nd 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 acquired a new position in shares of Waste Connections during the 2nd quarter worth about $2,714,000. Finally, State Street Corp lifted its position in shares of 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 worth $337,708,000 after purchasing an additional 17,197 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.
Waste Connections Trading Up 2.2%
Shares of WCN opened at $169.10 on Thursday. The stock's 50-day moving average price is $165.99 and its 200 day moving average price is $163.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $42.54 billion, a price-to-earnings ratio of 40.75, a P/E/G ratio of 2.84 and a beta of 0.48. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $188.75.
Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the business posted $1.29 earnings per share. The company's quarterly revenue was up 6.4% compared to the same quarter last year. As a group, research analysts predict that Waste Connections, Inc. will post 5.62 earnings per share for the current year.
Waste Connections Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections's dividend payout ratio is 33.73%.
Analysts Set New Price Targets
A number of research firms have issued reports on WCN. UBS Group reaffirmed a "neutral" rating and issued a $176.00 target price (up from $170.00) on shares of Waste Connections in a report on Tuesday, August 4th. Barclays upped their price target on Waste Connections from $180.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 28th. BMO Capital Markets reissued an "outperform" rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. TD Cowen restated a "buy" rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $218.00 target price (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $200.89.
Check Out Our Latest Report on Waste Connections
Insiders Place Their Bets
In related news, VP Patrick James Shea sold 7,500 shares of the firm's stock in a transaction dated 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 transaction, the vice president owned 19,737 shares in the company, valued at $3,084,103.62. This trade represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert Michael Cloninger sold 2,811 shares of Waste Connections stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the sale, the senior vice president owned 11,666 shares of the company's stock, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,811 shares of company stock valued at $1,887,572 in the last 90 days. 0.27% of the stock is currently owned by insiders.
Waste Connections Company Profile
(
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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