Lathrop Investment Management Corp lessened its stake in Waste Connections Inc (NYSE:WCN) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,030 shares of the business services provider’s stock after selling 450 shares during the quarter. Lathrop Investment Management Corp’s holdings in Waste Connections were worth $268,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Kings Point Capital Management acquired a new stake in Waste Connections during the fourth quarter worth about $78,000. Fox Run Management L.L.C. acquired a new stake in Waste Connections during the fourth quarter worth about $425,000. DNB Asset Management AS grew its position in Waste Connections by 31.9% in 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 last quarter. Bank of Nova Scotia Trust Co. grew its position in Waste Connections by 80.3% in 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 last quarter. Finally, Tandem Investment Advisors Inc. bought a new position in Waste Connections in the 4th quarter worth about $8,560,000. Institutional investors and hedge funds own 84.73% of the company’s stock.
Several research analysts have commented on WCN shares. Zacks Investment Research cut shares of Waste Connections from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. KeyCorp started coverage on shares of Waste Connections in a research report on Monday, February 4th. They issued an “overweight” rating and a $94.00 target price for the company. Royal Bank of Canada upped their target price on shares of Waste Connections from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 15th. TD Securities upped their target price on shares of Waste Connections from $87.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, February 15th. Finally, AltaCorp Capital cut shares of Waste Connections from an “outperform” rating to a “sector perform” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $95.40.
Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, April 24th. The business services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. Waste Connections had a net margin of 10.89% and a return on equity of 10.58%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business earned $0.56 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts forecast that Waste Connections Inc will post 2.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Tuesday, May 7th. Waste Connections’s dividend payout ratio is presently 25.40%.
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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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