IFM Investors Pty Ltd Raises Holdings in Waste Connections Inc (NYSE:WCN)
IFM Investors Pty Ltd boosted its stake in shares of Waste Connections Inc (NYSE:WCN) by 12.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,334 shares of the business services provider’s stock after acquiring an additional 2,182 shares during the quarter. IFM Investors Pty Ltd’s holdings in Waste Connections were worth $2,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Allworth Financial LP lifted its holdings in Waste Connections by 2.8% in the 2nd quarter. Allworth Financial LP now owns 3,657 shares of the business services provider’s stock worth $343,000 after buying an additional 100 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Waste Connections by 27.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 467 shares of the business services provider’s stock worth $44,000 after buying an additional 100 shares during the last quarter. PFG Advisors boosted its stake in shares of Waste Connections by 0.7% in the 3rd quarter. PFG Advisors now owns 20,464 shares of the business services provider’s stock worth $2,120,000 after buying an additional 150 shares during the last quarter. Stephenson National Bank & Trust boosted its stake in shares of Waste Connections by 10.3% in the 2nd quarter. Stephenson National Bank & Trust now owns 1,650 shares of the business services provider’s stock worth $155,000 after buying an additional 154 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Waste Connections by 15.4% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,251 shares of the business services provider’s stock worth $117,000 after buying an additional 167 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.
Several equities analysts recently weighed in on the company. BMO Capital Markets lifted their target price on Waste Connections from $104.00 to $106.00 in a research report on Friday, July 10th. Raymond James raised their price target on Waste Connections from $114.00 to $116.00 and gave the company a “strong-buy” rating in a report on Monday, August 10th. JPMorgan Chase & Co. raised Waste Connections from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $108.00 in a report on Wednesday, September 23rd. Oppenheimer reissued a “buy” rating on shares of Waste Connections in a research note on Thursday, September 17th. Finally, Royal Bank of Canada boosted their target price on Waste Connections from $109.00 to $112.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $109.93.
Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. Waste Connections had a net margin of 3.83% and a return on equity of 10.44%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. Analysts anticipate that Waste Connections Inc will post 2.47 EPS for the current fiscal year.
In other Waste Connections news, VP James Little sold 5,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $101.95, for a total value of $509,750.00. Following the completion of the sale, the vice president now owns 22,014 shares in the company, valued at approximately $2,244,327.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Ronald J. Mittelstaedt sold 48,814 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $100.19, for a total transaction of $4,890,674.66. Following the completion of the sale, the chairman now owns 142,811 shares of the company’s stock, valued at approximately $14,308,234.09. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.
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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