Crossmark Global Holdings Inc. Takes $2.86 Million Position in Waste Connections, Inc. (WCN)
Crossmark Global Holdings Inc. bought a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 40,876 shares of the business services provider’s stock, valued at approximately $2,860,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Achmea Investment Management B.V. raised its position in shares of Waste Connections by 50.0% during the 2nd quarter. Achmea Investment Management B.V. now owns 10,653 shares of the business services provider’s stock worth $686,000 after acquiring an additional 3,551 shares in the last quarter. Swiss National Bank raised its position in shares of Waste Connections by 54.7% during the 2nd quarter. Swiss National Bank now owns 961,659 shares of the business services provider’s stock worth $61,950,000 after acquiring an additional 340,053 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of Waste Connections during the 2nd quarter worth about $1,195,000. Dorsey Wright & Associates raised its position in shares of Waste Connections by 52.5% during the 2nd quarter. Dorsey Wright & Associates now owns 68,993 shares of the business services provider’s stock worth $4,445,000 after acquiring an additional 23,754 shares in the last quarter. Finally, Sentry Investments Corp. increased its position in Waste Connections by 37.4% during the second quarter. Sentry Investments Corp. now owns 2,973,999 shares of the business services provider’s stock worth $248,418,000 after buying an additional 810,130 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.
In other Waste Connections news, COO Darrell W. Chambliss sold 5,625 shares of Waste Connections stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total value of $399,318.75. Following the transaction, the chief operating officer now directly owns 101,292 shares in the company, valued at approximately $7,190,719.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Davis sold 700 shares of Waste Connections stock in a transaction that occurred on Monday, October 30th. The shares were 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. Company insiders own 0.68% of the company’s stock.
Several research analysts have commented on WCN shares. BidaskClub lowered Waste Connections from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Barclays PLC set a $70.00 price target on Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Royal Bank Of Canada lifted their price target on Waste Connections from $74.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. TD Securities lifted their price target on Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a research report on Thursday, July 27th. Finally, Raymond James Financial, Inc. lifted their price target on Waste Connections from $74.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $77.87.
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Waste Connections, Inc. (WCN) opened at $69.62 on Friday. Waste Connections, Inc. has a 12 month low of $48.78 and a 12 month high of $74.20. The firm has a market capitalization of $18,354.69, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 4.14 and a beta of 0.18. 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 (NYSE:WCN) last announced its earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $0.72 EPS. The company’s revenue was up 11.2% on a year-over-year basis. equities research analysts predict that Waste Connections, Inc. will post 2.13 earnings per share for the current fiscal year.
Waste Connections announced that its board has authorized a share buyback plan on Wednesday, August 2nd that allows the company to repurchase 13,180,000 outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be paid a $0.14 dividend. This is an increase from Waste Connections’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Tuesday, November 7th. Waste Connections’s dividend payout ratio (DPR) is 36.36%.
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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