Campbell & CO Investment Adviser LLC purchased a new stake in Waste Connections Inc (NYSE:WCN) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 2,210 shares of the business services provider’s stock, valued at approximately $203,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in Waste Connections during the 1st quarter worth about $477,000. First Trust Advisors LP purchased a new stake in Waste Connections during the 1st quarter worth about $482,000. Dorsey Wright & Associates increased its position in Waste Connections by 0.5% during the 2nd quarter. Dorsey Wright & Associates now owns 88,355 shares of the business services provider’s stock worth $8,445,000 after purchasing an additional 463 shares in the last quarter. DNB Asset Management AS increased its position in Waste Connections by 13.4% during the 2nd quarter. DNB Asset Management AS now owns 43,339 shares of the business services provider’s stock worth $4,142,000 after purchasing an additional 5,105 shares in the last quarter. Finally, EFG Asset Management Americas Corp. purchased a new stake in Waste Connections during the 2nd quarter worth about $2,589,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.
WCN has been the subject of a number of recent research reports. ValuEngine cut Waste Connections from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets set a $105.00 price objective on Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Oppenheimer reiterated a “market perform” rating on shares of Waste Connections in a research report on Thursday, July 18th. CIBC set a $99.00 price objective on Waste Connections and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada set a $100.00 price objective on Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $96.95.
Shares of NYSE:WCN opened at $93.09 on Wednesday. The stock’s 50-day moving average price is $91.36 and its two-hundred day moving average price is $92.48. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. Waste Connections Inc has a 12-month low of $70.28 and a 12-month high of $97.93. The firm has a market cap of $24.84 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 3.14 and a beta of 0.19.
Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $0.65 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, research analysts forecast that Waste Connections Inc will post 2.66 earnings per share for the current fiscal year.
Waste Connections 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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