9,278 Shares in Waste Connections Inc (WCN) Purchased by Teachers Insurance & Annuity Association of America
Teachers Insurance & Annuity Association of America acquired a new position in Waste Connections Inc (NYSE:WCN) in the fourth quarter, HoldingsChannel reports. The firm acquired 9,278 shares of the business services provider’s stock, valued at approximately $658,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of WCN. California State Teachers Retirement System purchased a new position in shares of Waste Connections in the 2nd quarter worth about $784,000. FDx Advisors Inc. bought a new stake in shares of Waste Connections in the 3rd quarter valued at about $411,000. Sei Investments Co. lifted its stake in shares of Waste Connections by 2.6% in the 3rd quarter. Sei Investments Co. now owns 155,544 shares of the business services provider’s stock valued at $10,882,000 after acquiring an additional 3,890 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in shares of Waste Connections by 141.8% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 42,625 shares of the business services provider’s stock valued at $2,986,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Jarislowsky Fraser Ltd lifted its stake in shares of Waste Connections by 43.7% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 6,483 shares of the business services provider’s stock valued at $452,000 after acquiring an additional 1,972 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.
WCN has been the subject of a number of recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 target price on shares of Waste Connections in a research note on Thursday, January 4th. Bank of America initiated coverage on Waste Connections in a research note on Thursday, December 28th. They issued a “buy” rating and a $80.00 target price for the company. Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Monday, February 19th. Credit Suisse Group set a $80.00 target price on Waste Connections and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, BMO Capital Markets initiated coverage on Waste Connections in a research note on Monday, December 11th. They issued an “outperform” rating and a $79.00 target price for the company. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Waste Connections has a consensus rating of “Buy” and an average price target of $78.22.
Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, February 14th. The business services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Waste Connections had a return on equity of 9.63% and a net margin of 12.46%. Waste Connections’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 EPS. equities research analysts forecast that Waste Connections Inc will post 2.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Tuesday, February 27th. Waste Connections’s payout ratio is 25.65%.
In other Waste Connections news, CEO Ronald J. Mittelstaedt sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $73.32, for a total transaction of $3,299,400.00. Following the completion of the transaction, the chief executive officer now owns 100,462 shares of the company’s stock, valued at approximately $7,365,873.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael W. Harlan sold 11,500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $72.03, for a total value of $828,345.00. Following the transaction, the director now directly owns 42,685 shares of the company’s stock, valued at approximately $3,074,600.55. The disclosure for this sale can be found here. Insiders have sold a total of 67,571 shares of company stock valued at $4,911,600 in the last ninety days. 0.60% of the stock is currently owned by corporate insiders.
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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