Waste Connections, Inc. (WCN) Position Reduced by BlueCrest Capital Management Ltd

BlueCrest Capital Management Ltd lowered its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 0.8% during the first quarter, Holdings Channel reports. The fund owned 200,293 shares of the business services provider’s stock after selling 1,594 shares during the period. Waste Connections comprises 0.8% of BlueCrest Capital Management Ltd’s holdings, making the stock its 19th largest position. BlueCrest Capital Management Ltd owned about 0.11% of Waste Connections worth $17,670,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WCN. Spirit of America Management Corp NY bought a new position in Waste Connections during the first quarter valued at about $110,000. Ladenburg Thalmann Financial Services Inc. increased its position in Waste Connections by 34.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,585 shares of the business services provider’s stock valued at $125,000 after buying an additional 404 shares during the last quarter. Pacad Investment Ltd. bought a new position in Waste Connections during the fourth quarter valued at about $134,000. Independent Portfolio Consultants Inc. bought a new position in Waste Connections during the first quarter valued at about $147,000. Finally, First Republic Investment Management Inc. bought a new position in Waste Connections during the fourth quarter valued at about $203,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

Waste Connections, Inc. (NYSE WCN) traded up 1.15% during midday trading on Friday, reaching $100.17. 3,089,951 shares of the company traded hands. Waste Connections, Inc. has a 12 month low of $68.26 and a 12 month high of $100.59. The firm has a market capitalization of $17.59 billion, a PE ratio of 77.47 and a beta of 0.20. The company’s 50-day moving average price is $94.01 and its 200 day moving average price is $85.81. Shares of Waste Connections are going to split on the morning of Monday, June 19th. The 3-2 split was announced on Wednesday, April 26th. The newly minted shares will be issued to shareholders after the market closes on Friday, June 16th.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, April 26th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. Waste Connections had a net margin of 5.48% and a return on equity of 8.37%. The firm’s quarterly revenue was up 112.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. On average, equities analysts anticipate that Waste Connections, Inc. will post $3.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.48%. Waste Connections’s dividend payout ratio (DPR) is 56.69%.

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A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $67.33 target price for the company in a research report on Tuesday, April 25th. Wedbush reiterated an “outperform” rating and issued a $76.67 target price (up from $62.00) on shares of Waste Connections in a research report on Friday, April 28th. Royal Bank of Canada reduced their target price on shares of Waste Connections from $68.00 to $63.33 and set an “outperform” rating for the company in a research report on Friday, April 28th. TD Securities reduced their target price on shares of Waste Connections from $66.67 to $63.33 and set a “hold” rating for the company in a research report on Friday, April 28th. Finally, Barclays PLC reiterated a “buy” rating and issued a $62.67 target price on shares of Waste Connections in a research report on Friday, March 3rd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Waste Connections currently has a consensus rating of “Buy” and a consensus price target of $61.06.

In other Waste Connections news, President Steven F. Bouck sold 15,000 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $96.05, for a total value of $1,440,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan Lee bought 800 shares of Waste Connections stock in a transaction on Tuesday, June 6th. The stock was purchased at an average price of $96.97 per share, for a total transaction of $77,576.00. Following the completion of the acquisition, the director now owns 5,079 shares in the company, valued at approximately $492,510.63. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 24,400 shares of company stock worth $2,350,516. 0.68% of the stock is owned by insiders.

Waste Connections Company Profile

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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