AMP Capital Investors Ltd lowered its holdings in shares of Waste Connections Inc (NYSE:WCN) by 15.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,537 shares of the business services provider’s stock after selling 16,384 shares during the period. AMP Capital Investors Ltd’s holdings in Waste Connections were worth $8,270,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in Waste Connections during the second quarter worth about $39,000. Commonwealth Bank of Australia raised its position in Waste Connections by 47.7% during the second quarter. Commonwealth Bank of Australia now owns 551 shares of the business services provider’s stock worth $51,000 after acquiring an additional 178 shares during the last quarter. Cable Hill Partners LLC raised its position in Waste Connections by 325.6% during the first quarter. Cable Hill Partners LLC now owns 566 shares of the business services provider’s stock worth $50,000 after acquiring an additional 433 shares during the last quarter. TRUE Private Wealth Advisors acquired a new position in Waste Connections during the second quarter worth about $66,000. Finally, Signaturefd LLC raised its position in Waste Connections by 24.5% during the first quarter. Signaturefd LLC now owns 854 shares of the business services provider’s stock worth $76,000 after acquiring an additional 168 shares during the last quarter. Institutional investors own 82.51% of the company’s stock.
WCN has been the subject of a number of analyst reports. ValuEngine lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Macquarie initiated coverage on shares of Waste Connections in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $100.00 price objective for the company. CIBC reissued a “market perform” rating on shares of Waste Connections in a research report on Thursday, July 18th. Oppenheimer reissued a “market perform” rating on shares of Waste Connections in a research report on Thursday, July 18th. Finally, Raymond James boosted their price objective on shares of Waste Connections from $105.00 to $106.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $96.66.
Waste Connections stock opened at $90.45 on Friday. Waste Connections Inc has a 1 year low of $70.28 and a 1 year high of $97.93. The firm has a 50 day moving average price of $91.02 and a 200 day moving average price of $91.71. The company has a market cap of $24.00 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.95 and a beta of 0.19. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05.
Waste Connections (NYSE:WCN) last released its earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. Waste Connections had a net margin of 10.82% and a return on equity of 10.57%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. Waste Connections’s revenue was up 10.5% compared to the same quarter last year. Sell-side analysts predict that Waste Connections Inc will post 2.67 EPS for the current year.
In other Waste Connections news, Director Edward E. Guillet sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $90.41, for a total transaction of $1,808,200.00. Following the completion of the sale, the director now directly owns 41,173 shares in the company, valued at $3,722,450.93. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William J. Razzouk sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $90.29, for a total transaction of $541,740.00. Following the sale, the director now owns 13,919 shares of the company’s stock, valued at $1,256,746.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,638 shares of company stock valued at $7,128,039. 0.30% of the stock is owned by insiders.
Waste Connections Company Profile
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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