Davis R M Inc Lowers stake in Waste Connections (WCN)

Waste Connections (WCN) : Davis R M Inc reduced its stake in Waste Connections by 3.35% during the most recent quarter end. The investment management company now holds a total of 800,444 shares of Waste Connections which is valued at $51,988,838 after selling 27,725 shares in Waste Connections , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Waste Connections makes up approximately 2.60% of Davis R M Inc’s portfolio.

Waste Connections opened for trading at $64.32 and hit $65 on the upside on Friday, eventually ending the session at $64.95, with a gain of 0.92% or 0.59 points. The heightened volatility saw the trading volume jump to 5,24,984 shares. Company has a market cap of $7,950 M.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in WCN in the latest quarter, The investment management firm added 2,683 additional shares and now holds a total of 41,336 shares of Waste Connections which is valued at $2,657,078. Waste Connections makes up approx 0.06% of Oregon Public Employees Retirement Fund’s portfolio.Jaffetilchin Investment Partners reduced its stake in WCN by selling 5,218 shares or 41.93% in the most recent quarter. The Hedge Fund company now holds 7,227 shares of WCN which is valued at $464,552. Waste Connections makes up approx 0.15% of Jaffetilchin Investment Partners’s portfolio.Weaver C. Barksdale Associates reduced its stake in WCN by selling 30 shares or 18.52% in the most recent quarter. The Hedge Fund company now holds 132 shares of WCN which is valued at $8,403. Waste Connections makes up approx 0.01% of Weaver C. Barksdale Associates’s portfolio.

On the company’s financial health, Waste Connections reported $0.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 26, 2015. Analyst had a consensus of $0.53. The company had revenue of $547.90 million for the quarter, compared to analysts expectations of $546.53 million. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Waste Connections. Waste Connections was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Apr 15, 2016. Shares were Reiterated by Imperial Capital on Apr 6, 2016 to “Outperform” and Lowered the Price Target to $ 72 from a previous price target of $75 .Company shares were Reiterated by Imperial Capital on Mar 24, 2016 to “Outperform”, Firm has raised the Price Target to $ 75 from a previous price target of $65 .

Waste Connections Inc. is an integrated municipal solid waste (MSW) services company that provides solid waste collection transfer disposal and recycling services. It provides non-hazardous exploration and production (E&P) waste treatment recovery and disposal services. The Company operates in four segments: Western Central Eastern and E&P. The Company’s Western segment consists of locations in Alaska California Idaho Montana Nevada Oregon Washington and western Wyoming. The Company’s Central segment consists of locations in Arizona Colorado Kansas Louisiana Minnesota Nebraska New Mexico Oklahoma South Dakota Texas Utah and eastern Wyoming. The Company’s Eastern segment consists of locations in Alabama Illinois Iowa Kentucky Massachusetts Michigan Mississippi New York North Carolina South Carolina and Tennessee. The Company’s E&P segment consists of its E&P operations in Louisiana New Mexico North Dakota Oklahoma Texas Wyoming and Gulf of Mexico.

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