National Pension Service Acquires 4,566 Shares of Waste Connections Inc (NYSE:WCN)
National Pension Service boosted its holdings in Waste Connections Inc (NYSE:WCN) by 1.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 382,832 shares of the business services provider’s stock after acquiring an additional 4,566 shares during the quarter. National Pension Service’s holdings in Waste Connections were worth $29,669,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in WCN. The Manufacturers Life Insurance Company lifted its position in shares of Waste Connections by 8.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,583,113 shares of the business services provider’s stock worth $428,339,000 after purchasing an additional 427,917 shares during the period. FDx Advisors Inc. acquired a new stake in shares of Waste Connections during the first quarter worth $897,000. Clearbridge Investments LLC raised its stake in Waste Connections by 4.5% during the first quarter. Clearbridge Investments LLC now owns 489,847 shares of the business services provider’s stock worth $37,880,000 after buying an additional 20,940 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Waste Connections by 87.3% in the first quarter. HighTower Advisors LLC now owns 4,541 shares of the business services provider’s stock valued at $352,000 after buying an additional 2,116 shares during the period. Finally, Coe Capital Management LLC boosted its position in Waste Connections by 4.7% during the first quarter. Coe Capital Management LLC now owns 24,005 shares of the business services provider’s stock valued at $1,860,000 after acquiring an additional 1,077 shares during the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.
WCN has been the topic of a number of research analyst reports. UBS Group cut their price target on Waste Connections from $156.00 to $146.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Deutsche Bank increased their target price on shares of Waste Connections from $96.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Raymond James restated a “strong-buy” rating and issued a $106.00 price target (up from $94.00) on shares of Waste Connections in a report on Friday, May 8th. Goldman Sachs Group lowered shares of Waste Connections from a “buy” rating to a “neutral” rating and set a $94.00 price objective on the stock. in a report on Friday, March 13th. Finally, Oppenheimer began coverage on Waste Connections in a research note on Wednesday, May 6th. They issued a “buy” rating and a $96.00 target price for the company. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $106.07.
Shares of Waste Connections stock traded down $0.67 on Friday, hitting $90.59. The company had a trading volume of 3,884 shares, compared to its average volume of 939,659. Waste Connections Inc has a 1 year low of $70.87 and a 1 year high of $105.17. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a 50 day moving average of $92.33 and a 200-day moving average of $91.61. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 41.48, a P/E/G ratio of 5.79 and a beta of 0.48.
Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Waste Connections had a return on equity of 10.71% and a net margin of 10.63%. Waste Connections’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities analysts anticipate that Waste Connections Inc will post 2.32 earnings per share for the current year.
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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