Flagship Harbor Advisors LLC boosted its stake in shares of Waste Connections Inc (NYSE:WCN) by 77.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 742 shares of the business services provider’s stock after purchasing an additional 324 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Waste Connections were worth $65,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Kings Point Capital Management purchased a new stake in Waste Connections during the 4th quarter worth about $78,000. Fox Run Management L.L.C. purchased a new stake in Waste Connections during the 4th quarter worth about $425,000. DNB Asset Management AS increased its holdings in Waste Connections by 31.9% during the 4th quarter. DNB Asset Management AS now owns 35,821 shares of the business services provider’s stock worth $2,660,000 after purchasing an additional 8,654 shares during the period. Bank of Nova Scotia Trust Co. increased its holdings in Waste Connections by 80.3% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 103,066 shares of the business services provider’s stock worth $7,653,000 after purchasing an additional 45,902 shares during the period. Finally, Tandem Investment Advisors Inc. purchased a new stake in Waste Connections during the 4th quarter worth about $8,560,000. Institutional investors own 84.78% of the company’s stock.
Several brokerages have weighed in on WCN. TD Securities upped their price target on Waste Connections from $87.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, February 15th. Zacks Investment Research downgraded Waste Connections from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. UBS Group increased their price objective on Waste Connections from $96.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Stifel Nicolaus downgraded Waste Connections from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a report on Thursday, April 11th. Finally, Bank of America increased their price objective on Waste Connections from $80.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $89.64.
Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 13th. The business services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Waste Connections had a return on equity of 10.46% and a net margin of 11.11%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts expect that Waste Connections Inc will post 2.8 earnings per share for the current year.
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About Waste Connections
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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