Amundi Pioneer Asset Management Inc. decreased its stake in Waste Connections Inc (NYSE:WCN) by 10.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536,697 shares of the business services provider’s stock after selling 63,177 shares during the quarter. Amundi Pioneer Asset Management Inc. owned approximately 0.20% of Waste Connections worth $47,547,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in WCN. Lindbrook Capital LLC acquired a new stake in shares of Waste Connections during the fourth quarter worth $30,000. Resources Investment Advisors Inc. acquired a new stake in shares of Waste Connections during the fourth quarter worth $32,000. Rehmann Capital Advisory Group grew its stake in shares of Waste Connections by 3,300.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 442 shares of the business services provider’s stock worth $33,000 after purchasing an additional 429 shares during the period. Cable Hill Partners LLC grew its stake in shares of Waste Connections by 325.6% during the first quarter. Cable Hill Partners LLC now owns 566 shares of the business services provider’s stock worth $50,000 after purchasing an additional 433 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of Waste Connections by 44.7% during the first quarter. Parallel Advisors LLC now owns 622 shares of the business services provider’s stock worth $55,000 after purchasing an additional 192 shares during the period. 83.30% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on WCN. TD Securities lifted their price objective on Waste Connections from $88.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. BMO Capital Markets set a $76.00 target price on Gilead Sciences and gave the company a “buy” rating in a research note on Monday, July 15th. Oppenheimer reissued a “market perform” rating on shares of Waste Management in a research note on Thursday. AltaCorp Capital cut Waste Connections from an “outperform” rating to a “sector perform” rating in a research report on Thursday, April 25th. Finally, UBS Group reaffirmed a “hold” rating on shares of Deutsche Bank in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $95.79.
Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Waste Connections had a return on equity of 10.58% and a net margin of 10.89%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share. On average, equities research analysts anticipate that Waste Connections Inc will post 2.77 EPS for the current fiscal year.
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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