Aperio Group LLC Has $2.37 Million Stake in Waste Connections, Inc. (NYSE:WCN)
Aperio Group LLC increased its position in Waste Connections, Inc. (NYSE:WCN) by 63.4% during the second quarter, Holdings Channel reports. The institutional investor owned 36,845 shares of the business services provider’s stock after buying an additional 14,290 shares during the period. Aperio Group LLC’s holdings in Waste Connections were worth $2,374,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the company. Northstar Asset Management LLC acquired a new stake in Waste Connections during the first quarter valued at $905,000. Janney Montgomery Scott LLC increased its stake in Waste Connections by 15.1% in the first quarter. Janney Montgomery Scott LLC now owns 5,067 shares of the business services provider’s stock valued at $447,000 after buying an additional 663 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in Waste Connections during the first quarter valued at $612,000. Independent Portfolio Consultants Inc. acquired a new stake in Waste Connections during the first quarter valued at $147,000. Finally, Korea Investment CORP increased its stake in Waste Connections by 479.3% in the first quarter. Korea Investment CORP now owns 7,572 shares of the business services provider’s stock valued at $668,000 after buying an additional 6,265 shares during the period. Institutional investors own 59.68% of the company’s stock.
Waste Connections, Inc. (NYSE:WCN) traded up 0.34% during mid-day trading on Monday, hitting $65.21. The company had a trading volume of 235,516 shares. The company has a 50-day moving average price of $64.96 and a 200 day moving average price of $60.17. Waste Connections, Inc. has a 52-week low of $47.81 and a 52-week high of $67.14. The company has a market capitalization of $17.18 billion, a P/E ratio of 55.45 and a beta of 0.23.
Waste Connections (NYSE:WCN) last posted its earnings results on Tuesday, July 25th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Waste Connections had a return on equity of 9.19% and a net margin of 7.11%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company earned $0.66 EPS. Waste Connections’s revenue was up 61.6% on a year-over-year basis. On average, analysts forecast that Waste Connections, Inc. will post $2.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, August 4th. Waste Connections’s payout ratio is 32.11%.
Waste Connections announced that its board has initiated a share repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase 13,180,000 outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several analysts have recently weighed in on the company. Royal Bank Of Canada lifted their target price on Waste Connections from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Monday, July 31st. TD Securities decreased their target price on Waste Connections from $66.67 to $63.33 and set a “hold” rating for the company in a research report on Friday, April 28th. Barclays PLC set a $70.00 target price on Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. lifted their target price on Waste Connections from $74.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 27th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $69.97.
In other Waste Connections news, VP Patrick James Shea sold 6,000 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $96.95, for a total value of $581,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan Lee purchased 800 shares of Waste Connections stock in a transaction on Tuesday, June 6th. The stock was bought at an average cost of $96.97 per share, for a total transaction of $77,576.00. Following the transaction, the director now directly owns 5,079 shares in the company, valued at $492,510.63. The disclosure for this purchase can be found here. In the last three months, insiders have sold 93,900 shares of company stock worth $6,871,801. 0.68% of the stock is owned by corporate 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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