Commerzbank Aktiengesellschaft FI lessened its stake in Waste Connections, Inc. (NYSE:WCN) by 8.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 14,951 shares of the business services provider’s stock after selling 1,379 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Waste Connections were worth $963,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of WCN. Independent Portfolio Consultants Inc. increased its holdings in Waste Connections by 10.1% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 168 shares during the last quarter. US Bancorp DE increased its holdings in Waste Connections by 14.3% in the 2nd quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 271 shares during the last quarter. Creative Planning increased its holdings in Waste Connections by 223.5% in the 2nd quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock valued at $154,000 after purchasing an additional 1,656 shares during the last quarter. Capital One National Association acquired a new stake in Waste Connections in the 1st quarter valued at approximately $208,000. Finally, BB&T Corp acquired a new stake in Waste Connections in the 2nd quarter valued at approximately $212,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.
WCN has been the subject of several research reports. Credit Suisse Group restated a “buy” rating and issued a $75.00 price target on shares of Waste Connections in a research note on Friday, June 23rd. Barclays PLC restated a “buy” rating and issued a $68.00 price target on shares of Waste Connections in a research note on Friday, June 23rd. Stifel Nicolaus boosted their price target on shares of Waste Connections from $66.50 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. BidaskClub downgraded shares of Waste Connections from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Monday, July 31st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.48.
In other Waste Connections news, insider James Little sold 3,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $64.81, for a total transaction of $194,430.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Worthing Jackman sold 30,000 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $65.00, for a total transaction of $1,950,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,500 shares of company stock valued at $4,521,285. Company insiders own 0.68% of the company’s stock.
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Shares of Waste Connections, Inc. (NYSE:WCN) opened at 69.86 on Friday. The stock has a market capitalization of $18.40 billion, a PE ratio of 59.40 and a beta of 0.24. The stock’s 50 day moving average is $65.91 and its 200 day moving average is $62.87. Waste Connections, Inc. has a 52-week low of $47.81 and a 52-week high of $70.72.
Waste Connections (NYSE:WCN) last released its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. The business’s revenue was up 61.6% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. Equities research analysts expect that Waste Connections, Inc. will post $2.13 earnings per share for the current fiscal year.
Waste Connections declared that its board has approved a share buyback plan on Wednesday, August 2nd that authorizes the company to buyback 13,180,000 outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Waste Connections Company 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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