Russell Investments Group Ltd. reduced its position in Waste Connections, Inc. (NYSE:WCN – Get Rating) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 279,239 shares of the business services provider’s stock after selling 22,206 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Waste Connections worth $37,801,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of WCN. HighTower Advisors LLC increased its position in Waste Connections by 36.0% in the 1st quarter. HighTower Advisors LLC now owns 10,714 shares of the business services provider’s stock valued at $1,501,000 after acquiring an additional 2,835 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Waste Connections by 10.4% in the first quarter. Private Advisor Group LLC now owns 3,202 shares of the business services provider’s stock valued at $448,000 after acquiring an additional 301 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in Waste Connections by 39.5% during the first quarter. Vontobel Holding Ltd. now owns 11,747 shares of the business services provider’s stock worth $1,641,000 after purchasing an additional 3,328 shares in the last quarter. Blair William & Co. IL boosted its holdings in Waste Connections by 34.9% in the 1st quarter. Blair William & Co. IL now owns 40,524 shares of the business services provider’s stock valued at $5,661,000 after purchasing an additional 10,473 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Waste Connections by 6.2% in the 1st quarter. Sei Investments Co. now owns 133,034 shares of the business services provider’s stock valued at $18,661,000 after purchasing an additional 7,734 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
WCN has been the topic of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $165.00 price target on shares of Waste Connections in a research note on Tuesday, October 25th. Royal Bank of Canada increased their price target on shares of Waste Connections from $150.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, November 4th. Morgan Stanley decreased their price objective on shares of Waste Connections from $163.00 to $158.00 and set an “overweight” rating on the stock in a report on Wednesday, January 4th. StockNews.com began coverage on Waste Connections in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Raymond James raised their price objective on Waste Connections from $149.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Monday, November 7th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Waste Connections has a consensus rating of “Buy” and a consensus target price of $151.00.
Waste Connections Price Performance
Waste Connections (NYSE:WCN – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Waste Connections had a return on equity of 14.10% and a net margin of 11.59%. Equities research analysts forecast that Waste Connections, Inc. will post 3.8 EPS for the current year.
Waste Connections Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Wednesday, November 16th were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 0.79%. This is an increase from Waste Connections’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, November 15th. Waste Connections’s dividend payout ratio is 32.69%.
Insiders Place Their Bets
In other news, SVP Eric Hansen sold 4,000 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $136.93, for a total transaction of $547,720.00. Following the transaction, the senior vice president now owns 6,460 shares of the company’s stock, valued at $884,567.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by company insiders.
Waste Connections Company Profile
Waste Connections, Inc engages in the provision of non-hazardous waste collection, transfer, and disposal services. It offers its services to residential, commercial, landfill and transfer stations, and industries such as office, apartments multi-family, construction and demolition, property management, retail, restaurant, and manufacturing.
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