KBC Group NV Cuts Position in Waste Connections, Inc. (WCN)
KBC Group NV decreased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 22.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,801 shares of the business services provider’s stock after selling 12,135 shares during the period. KBC Group NV’s holdings in Waste Connections were worth $2,758,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of WCN. Independent Portfolio Consultants Inc. increased its stake in Waste Connections by 10.1% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock worth $118,000 after buying an additional 168 shares during the last quarter. US Bancorp DE increased its stake in Waste Connections by 14.3% in the second quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock worth $140,000 after buying an additional 271 shares during the last quarter. Creative Planning increased its stake in Waste Connections by 223.5% in the second quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock worth $154,000 after buying an additional 1,656 shares during the last quarter. Capital One National Association bought a new stake in Waste Connections during the first quarter worth about $208,000. Finally, BB&T Corp bought a new stake in Waste Connections during the second quarter worth about $212,000. Institutional investors own 61.21% of the company’s stock.
Shares of Waste Connections, Inc. (NYSE WCN) opened at 64.89 on Friday. The stock has a market capitalization of $17.09 billion, a PE ratio of 55.18 and a beta of 0.23. The firm has a 50-day moving average of $64.66 and a 200 day moving average of $61.47. Waste Connections, Inc. has a 1-year low of $47.81 and a 1-year high of $67.14.
Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 61.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. On average, equities analysts anticipate that Waste Connections, Inc. will post $2.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, August 4th. Waste Connections’s dividend payout ratio is currently 32.11%.
Waste Connections declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 2nd that permits the company to buyback 13,180,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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Several research analysts recently issued reports on WCN shares. BidaskClub downgraded Waste Connections from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Barclays PLC set a $70.00 price objective on Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Royal Bank Of Canada lifted their price objective on Waste Connections from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, June 23rd. Credit Suisse Group set a $75.00 price objective on Waste Connections and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $71.48.
In related news, Director Edward E. Guillet sold 11,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $65.27, for a total transaction of $750,605.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Worthing Jackman sold 30,000 shares of the business’s stock in a transaction that occurred 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. In the last 90 days, insiders have sold 93,900 shares of company stock valued at $6,871,801. Corporate insiders own 0.68% of the company’s stock.
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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