Advisor Group Inc. Has $627,000 Position in Waste Connections, Inc. (WCN)
Advisor Group Inc. increased its holdings in Waste Connections, Inc. (NYSE:WCN) by 61.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,208 shares of the business services provider’s stock after purchasing an additional 4,251 shares during the quarter. Advisor Group Inc.’s holdings in Waste Connections were worth $627,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thompson Davis & CO. Inc. raised its holdings in Waste Connections by 55.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock worth $101,000 after purchasing an additional 559 shares during the period. Independent Portfolio Consultants Inc. raised 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 worth $118,000 after purchasing an additional 168 shares during the period. US Bancorp DE raised 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 worth $140,000 after purchasing an additional 271 shares during the period. Creative Planning raised 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 worth $154,000 after purchasing an additional 1,656 shares during the period. Finally, Two Sigma Securities LLC acquired a new position in Waste Connections in the 1st quarter worth about $229,000. 82.59% of the stock is owned by institutional investors.
In other news, CFO Worthing Jackman sold 30,000 shares of Waste Connections 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Little sold 3,000 shares of Waste Connections stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $64.81, for a total transaction of $194,430.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,500 shares of company stock valued at $4,521,285. Insiders own 0.68% of the company’s stock.
Shares of Waste Connections, Inc. (WCN) opened at 69.76 on Thursday. The stock has a market capitalization of $18.38 billion, a price-to-earnings ratio of 59.32 and a beta of 0.23. Waste Connections, Inc. has a 52-week low of $47.81 and a 52-week high of $70.76. The stock has a 50 day moving average price of $67.59 and a 200-day moving average price of $63.79.
Waste Connections (NYSE:WCN) last posted its quarterly earnings results 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. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 61.6% on a year-over-year basis. On average, equities research analysts predict that Waste Connections, Inc. will post $2.13 EPS for the current fiscal year.
Waste Connections declared that its Board of Directors has authorized a share buyback program on Wednesday, August 2nd that allows the company to buyback 13,180,000 shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
A number of research firms recently weighed in on WCN. Stifel Nicolaus upped their price target on Waste Connections from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank Of Canada upped their price target on Waste Connections from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Barclays PLC set a $70.00 price target on Waste Connections and gave the stock a “buy” rating in a report on Wednesday, July 26th. TD Securities boosted their price objective on Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. Finally, Credit Suisse Group set a $75.00 price objective on Waste Connections and gave the stock a “buy” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $71.94.
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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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