Commerzbank Aktiengesellschaft FI Has $626,000 Holdings in Waste Connections Inc (WCN)
Commerzbank Aktiengesellschaft FI cut its holdings in shares of Waste Connections Inc (NYSE:WCN) by 40.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,942 shares of the business services provider’s stock after selling 6,009 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Waste Connections were worth $626,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Thompson Davis & CO. Inc. grew its position in shares of 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 acquiring an additional 559 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Waste Connections in the 3rd quarter worth approximately $103,000. Fieldpoint Private Securities LLC grew its position in shares of Waste Connections by 50.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock worth $136,000 after acquiring an additional 702 shares in the last quarter. US Bancorp DE grew its position in shares of 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 acquiring an additional 271 shares in the last quarter. Finally, BB&T Investment Services Inc. acquired a new position in Waste Connections during the 2nd quarter valued at approximately $217,000. Institutional investors own 83.02% of the company’s stock.
Shares of Waste Connections Inc (NYSE:WCN) traded up $0.24 during mid-day trading on Friday, reaching $68.66. The company’s stock had a trading volume of 751,102 shares, compared to its average volume of 804,742. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.66. Waste Connections Inc has a one year low of $51.07 and a one year high of $74.20. The firm has a market cap of $18,101.59, a price-to-earnings ratio of 32.75, a PEG ratio of 4.09 and a beta of 0.17.
Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. Waste Connections had a return on equity of 9.59% and a net margin of 7.68%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. analysts predict that Waste Connections Inc will post 2.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Tuesday, November 7th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.12. Waste Connections’s payout ratio is 42.42%.
In other Waste Connections news, COO Darrell W. Chambliss sold 5,625 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total transaction of $399,318.75. Following the completion of the transaction, the chief operating officer now owns 101,292 shares in the company, valued at approximately $7,190,719.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Davis sold 700 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $71.72, for a total value of $50,204.00. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
A number of research firms recently issued reports on WCN. Stifel Nicolaus restated a “buy” rating and set a $75.00 price objective on shares of Waste Connections in a research report on Tuesday, August 29th. Zacks Investment Research lowered Waste Connections from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Credit Suisse Group set a $82.00 price objective on Waste Connections and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Oppenheimer boosted their price objective on Waste Connections from $74.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Finally, TD Securities boosted their price objective on Waste Connections from $73.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Waste Connections currently has a consensus rating of “Buy” and a consensus price target of $77.87.
About Waste Connections
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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