BB&T Securities LLC Increases Position in Waste Connections Inc (WCN)

BB&T Securities LLC Increases Position in Waste Connections Inc (WCN)

Several other institutional investors have also added to or reduced their stakes in the company. Spirit of America Management Corp NY acquired a new position in Waste Connections during the first quarter worth $110,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of 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 worth $125,000 after buying an additional 404 shares during the last quarter. Independent Portfolio Consultants Inc. purchased a new position in shares of Waste Connections during the first quarter worth approximately $147,000. Pacad Investment Ltd. purchased a new position in shares of Waste Connections during the fourth quarter worth approximately $134,000. Finally, Capital One National Association purchased a new position in shares of Waste Connections during the first quarter worth approximately $208,000. 85.28% of the stock is owned by hedge funds and other institutional investors.

BB&T Securities LLC raised its position in Waste Connections Inc (NYSE:WCN) by 100.4% during the first quarter, Holdings Channel reports. The firm owned 14,098 shares of the business services provider’s stock after buying an additional 7,063 shares during the period. BB&T Securities LLC’s holdings in Waste Connections were worth $1,243,000 as of its most recent filing with the SEC.

Waste Connections Inc (NYSE:WCN) traded up 0.57% during midday trading on Wednesday, reaching $95.15. 1,032,998 shares of the company traded hands. The firm has a 50 day moving average of $91.56 and a 200-day moving average of $84.23. Waste Connections Inc has a 12 month low of $67.19 and a 12 month high of $95.23. The stock has a market capitalization of $16.70 billion, a price-to-earnings ratio of 73.59 and a beta of 0.26. Waste Connections’s stock is going to split on Monday, June 19th. The 3-2 split was announced on Wednesday, April 26th. The newly minted shares will be issued to shareholders after the closing bell on Friday, June 16th.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, April 26th. The business services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.05. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Waste Connections had a net margin of 5.77% and a return on equity of 8.53%. Waste Connections’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. Analysts forecast that Waste Connections Inc will post $3.12 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Monday, May 8th. Waste Connections’s dividend payout ratio is currently 47.04%.

WCN has been the subject of a number of research reports. Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Tuesday, February 14th. Wedbush reissued an “outperform” rating and set a $93.00 price target (up from $85.00) on shares of Waste Connections in a research note on Wednesday, February 22nd. Barclays PLC reissued a “buy” rating and set a $94.00 price target on shares of Waste Connections in a research note on Friday, March 3rd. Royal Bank of Canada dropped their price target on Waste Connections from $102.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, April 28th. Finally, TD Securities dropped their price target on Waste Connections from $100.00 to $95.00 and set a “hold” rating for the company in a research note on Friday, April 28th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $91.58.

In other news, Director Susan Lee acquired 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average cost of $92.05 per share, with a total value of $110,460.00. Following the acquisition, the director now owns 3,679 shares in the company, valued at $338,651.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.68% 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “WCN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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