12,169 Shares in Waste Connections Inc (WCN) Purchased by California State Teachers Retirement System
California State Teachers Retirement System acquired a new position in Waste Connections Inc (NYSE:WCN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,169 shares of the business services provider’s stock, valued at approximately $784,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised its holdings in Waste Connections by 55.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock worth $101,000 after acquiring an additional 559 shares during the last quarter. Fieldpoint Private Securities LLC raised its stake in Waste Connections by 50.0% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock valued at $136,000 after buying an additional 702 shares during the last quarter. US Bancorp DE raised its stake in Waste Connections by 14.3% during the 2nd quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock valued at $140,000 after buying an additional 271 shares during the last quarter. Creative Planning raised its stake in Waste Connections by 223.5% during the 2nd quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock valued at $154,000 after buying an additional 1,656 shares during the last quarter. Finally, BB&T Corp purchased a new stake in Waste Connections during the 2nd quarter valued at $212,000. Institutional investors own 83.01% of the company’s stock.
A number of equities research analysts have weighed in on WCN shares. Royal Bank Of Canada boosted their target price on shares of Waste Connections from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Stifel Nicolaus reiterated a “buy” rating and set a $75.00 target price on shares of Waste Connections in a research note on Tuesday, August 29th. Credit Suisse Group set a $82.00 target price on shares of Waste Connections and gave the company an “outperform” rating in a research note on Tuesday, October 31st. TD Securities boosted their target price on shares of Waste Connections from $73.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Thursday, October 5th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $77.87.
Waste Connections Inc (NYSE WCN) traded up $0.08 during trading hours on Friday, hitting $68.91. The stock had a trading volume of 873,950 shares, compared to its average volume of 794,359. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market cap of $18,180.00, a price-to-earnings ratio of 33.05, a price-to-earnings-growth ratio of 4.13 and a beta of 0.19. Waste Connections Inc has a 52-week low of $50.45 and a 52-week high of $74.20.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Waste Connections had a return on equity of 9.59% and a net margin of 7.68%. Waste Connections’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. research analysts anticipate that Waste Connections Inc will post 2.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.81%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, November 7th. Waste Connections’s dividend payout ratio is 42.42%.
In related news, Director Robert Davis sold 700 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $71.72, for a total value of $50,204.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Darrell W. Chambliss sold 5,625 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total transaction of $399,318.75. Following the completion of the transaction, the chief operating officer now directly owns 101,292 shares of the company’s stock, valued at approximately $7,190,719.08. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
TRADEMARK VIOLATION WARNING: This story was first posted by Daily Political and is the sole property of of Daily Political. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.dailypolitical.com/2017/12/01/12169-shares-in-waste-connections-inc-wcn-purchased-by-california-state-teachers-retirement-system.html.
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.
Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections Inc (NYSE:WCN).
Receive News & Ratings for Waste Connections Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections Inc and related companies with MarketBeat.com's FREE daily email newsletter.