Hanseatic Management Services Inc. Lowers Holdings in Waste Connections, Inc. (WCN)
Hanseatic Management Services Inc. lessened its position in shares of Waste Connections, Inc. (NYSE:WCN) by 26.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,336 shares of the business services provider’s stock after selling 6,301 shares during the period. Hanseatic Management Services Inc.’s holdings in Waste Connections were worth $1,117,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Thompson Davis & CO. Inc. grew its position in Waste Connections by 55.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 559 shares during the period. Independent Portfolio Consultants Inc. grew its position in Waste Connections by 10.1% during the second quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 168 shares during the period. US Bancorp DE grew its position in Waste Connections by 14.3% during the second quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock valued at $140,000 after acquiring an additional 271 shares during the period. Creative Planning grew its position in Waste Connections by 223.5% during the second quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock valued at $154,000 after acquiring an additional 1,656 shares during the period. Finally, Pinnacle Associates Ltd. purchased a new stake in Waste Connections during the first quarter valued at about $219,000. 82.59% of the stock is owned by hedge funds and other institutional investors.
Waste Connections, Inc. (NYSE WCN) traded down 0.20% on Friday, hitting $69.86. The company had a trading volume of 483,942 shares. The firm’s 50 day moving average price is $65.91 and its 200 day moving average price is $62.87. Waste Connections, Inc. has a 12-month low of $47.81 and a 12-month high of $70.72. The stock has a market cap of $18.40 billion, a P/E ratio of 59.40 and a beta of 0.24.
Waste Connections (NYSE:WCN) last posted its earnings results on Tuesday, July 25th. The business services provider reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. The business’s quarterly revenue was up 61.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. Equities analysts predict that Waste Connections, Inc. will post $2.13 earnings per share for the current fiscal year.
Waste Connections announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 2nd that allows the company to repurchase 13,180,000 outstanding shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
WCN has been the subject of several analyst reports. BidaskClub downgraded Waste Connections from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. 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. Royal Bank Of Canada upped 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. Credit Suisse Group set a $75.00 target price on Waste Connections and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research raised 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. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Waste Connections currently has a consensus rating of “Buy” and a consensus price target of $71.48.
In other news, insider James Little sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $64.81, for a total value of $194,430.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward E. Guillet sold 11,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $65.27, for a total value of $750,605.00. The disclosure for this sale can be found here. Insiders have sold 69,500 shares of company stock worth $4,521,285 over the last three months. Company insiders own 0.68% of the company’s stock.
Waste Connections 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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