FDx Advisors Inc. purchased a new stake in Waste Connections Inc (NYSE:WCN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,881 shares of the business services provider’s stock, valued at approximately $411,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in Waste Connections by 45.3% during the 1st quarter. Alliancebernstein L.P. now owns 14,287 shares of the business services provider’s stock worth $1,260,000 after purchasing an additional 4,453 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Waste Connections by 3.9% in the 1st quarter. TIAA CREF Investment Management LLC now owns 27,406 shares of the business services provider’s stock worth $2,418,000 after acquiring an additional 1,030 shares in the last quarter. BlackRock Inc. raised its position in shares of Waste Connections by 1,174.2% in the 1st quarter. BlackRock Inc. now owns 1,774,965 shares of the business services provider’s stock worth $156,588,000 after acquiring an additional 1,635,662 shares in the last quarter. Creative Planning raised its position in shares of Waste Connections by 223.5% in the 2nd quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock worth $154,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Waste Connections by 15.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 47,070 shares of the business services provider’s stock valued at $3,032,000 after buying an additional 6,390 shares during the period. Institutional investors own 83.02% of the company’s stock.
Several analysts have recently commented on the company. Stifel Nicolaus restated a “buy” rating and issued a $75.00 target price on shares of Waste Connections in a research note on Tuesday, August 29th. Zacks Investment Research downgraded Waste Connections from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Credit Suisse Group set a $82.00 target price on shares of Waste Connections and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Oppenheimer lifted their price target on shares of Waste Connections from $74.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, 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 report on Friday, October 27th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $77.87.
Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. equities analysts expect that Waste Connections Inc will post 2.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.82%. This is an increase 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, COO Darrell W. Chambliss sold 5,625 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $70.99, for a total value 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 $7,190,719.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Davis sold 700 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $71.72, for a total transaction of $50,204.00. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
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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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