Northstar Asset Management LLC raised its position in Waste Connections, Inc. (NYSE:WCN) by 55.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,975 shares of the business services provider’s stock after buying an additional 5,725 shares during the period. Northstar Asset Management LLC’s holdings in Waste Connections were worth $1,029,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Comerica Bank raised its position in Waste Connections by 11.9% in the fourth quarter. Comerica Bank now owns 10,510 shares of the business services provider’s stock worth $846,000 after buying an additional 1,114 shares during the period. Allianz Asset Management AG acquired a new position in Waste Connections during the fourth quarter worth $253,000. Ladenburg Thalmann Financial Services Inc. raised its position in Waste Connections by 34.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,585 shares of the business services provider’s stock worth $125,000 after buying an additional 404 shares during the period. Macquarie Group Ltd. raised its position in Waste Connections by 28.2% in the fourth quarter. Macquarie Group Ltd. now owns 17,620 shares of the business services provider’s stock worth $1,837,000 after buying an additional 3,880 shares during the period. Finally, National Pension Service acquired a new position in Waste Connections during the first quarter worth $13,470,000. 57.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waste Connections, Inc. (WCN) traded down 0.38% during mid-day trading on Monday, hitting $63.69. 361,890 shares of the stock were exchanged. The company has a 50-day moving average of $64.79 and a 200 day moving average of $59.47. Waste Connections, Inc. has a one year low of $47.81 and a one year high of $67.06. The stock has a market cap of $16.77 billion, a PE ratio of 73.89 and a beta of 0.24.
Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, April 26th. The business services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Waste Connections had a net margin of 5.48% and a return on equity of 8.37%. Waste Connections’s revenue was up 112.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. On average, equities analysts predict that Waste Connections, Inc. will post $2.09 earnings per share for the current year.
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A number of research analysts have weighed in on WCN shares. Zacks Investment Research raised shares of Waste Connections from a “hold” rating to a “buy” rating and set a $67.33 target price on the stock in a research note on Tuesday, April 25th. Wedbush reissued an “outperform” rating and issued a $76.67 target price (up from $62.00) on shares of Waste Connections in a research note on Friday, April 28th. Royal Bank Of Canada decreased their target price on shares of Waste Connections from $68.00 to $63.33 and set an “outperform” rating on the stock in a research note on Friday, April 28th. TD Securities decreased their target price on shares of Waste Connections from $66.67 to $63.33 and set a “hold” rating on the stock in a research note on Friday, April 28th. Finally, Barclays PLC reissued a “buy” rating on shares of Waste Connections in a research note on Friday, April 28th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.83.
In other Waste Connections news, President Steven F. Bouck sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $96.05, for a total transaction of $1,440,750.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Patrick James Shea sold 6,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $96.95, for a total transaction of $581,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,400 shares of company stock worth $2,350,516. 0.68% of the stock is currently owned by insiders.
About Waste Connections
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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