Cidel Asset Management Inc. lessened its holdings in Waste Connections, Inc. (NYSE:WCN) by 96.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,113 shares of the business services provider’s stock after selling 171,350 shares during the quarter. Cidel Asset Management Inc.’s holdings in Waste Connections were worth $731,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Trustcore Financial Services LLC boosted its position in shares of Waste Connections by 239.4% in the second quarter. Trustcore Financial Services LLC now owns 241 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 170 shares during the period. Acadian Asset Management LLC bought a new stake in Waste Connections during the first quarter worth about $32,000. Ameritas Investment Company LLC bought a new stake in Waste Connections during the first quarter worth about $51,000. HM Payson & Co. lifted its position in Waste Connections by 62.5% during the first quarter. HM Payson & Co. now owns 486 shares of the business services provider’s stock worth $52,000 after purchasing an additional 187 shares during the period. Finally, Fifth Third Bancorp lifted its position in Waste Connections by 1,637.9% during the first quarter. Fifth Third Bancorp now owns 504 shares of the business services provider’s stock worth $54,000 after purchasing an additional 475 shares during the period. 79.99% of the stock is owned by institutional investors.
WCN has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Waste Connections from $131.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. Raymond James upped their price objective on shares of Waste Connections from $143.00 to $144.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 6th. BMO Capital Markets increased their target price on shares of Waste Connections from $130.00 to $134.00 and gave the stock an “outperform” rating in a report on Wednesday, July 7th. Royal Bank of Canada increased their target price on shares of Waste Connections from $130.00 to $134.00 and gave the stock an “outperform” rating in a report on Friday, August 6th. Finally, Oppenheimer increased their target price on shares of Waste Connections from $126.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $130.33.
Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, August 4th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.04. Waste Connections had a return on equity of 11.17% and a net margin of 10.95%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. Equities analysts expect that Waste Connections, Inc. will post 3.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Wednesday, August 18th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, August 17th. Waste Connections’s dividend payout ratio is presently 31.06%.
Waste Connections Profile
Waste Connections, Inc engages in the provision of solid waste services. Its services include waste collection, transfer, disposal, treatment and recycling. It also provides non-hazardous exploration and production, waste treatment, recovery and disposal services. The company was founded by Ronald J.
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