Ascend Capital buys $89.9 Million stake in Waste Connections (WCN)

Waste Connections (WCN) : Ascend Capital scooped up 1,068,953 additional shares in Waste Connections during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,288,897 shares of Waste Connections which is valued at $89.9 Million.Waste Connections makes up approximately 9.15% of Ascend Capital’s portfolio.

Other Hedge Funds, Including , Epoch Investment Partners reduced its stake in WCN by selling 255,110 shares or 49.77% in the most recent quarter. The Hedge Fund company now holds 257,458 shares of WCN which is valued at $18 Million. Waste Connections makes up approx 0.07% of Epoch Investment Partners’s portfolio. Mitsubishi Ufj Trust Banking Corp added WCN to its portfolio by purchasing 246,945 company shares during the most recent quarter which is valued at $17.2 Million. Waste Connections makes up approx 0.04% of Mitsubishi Ufj Trust Banking Corp’s portfolio. Jefferies Group sold out all of its stake in WCN during the most recent quarter. The investment firm sold 9,110 shares of WCN which is valued $635,331.Bessemer Group Inc boosted its stake in WCN in the latest quarter, The investment management firm added 155,765 additional shares and now holds a total of 156,991 shares of Waste Connections which is valued at $10.9 Million. Waste Connections makes up approx 0.06% of Bessemer Group Inc’s portfolio. Mitsubishi Ufj Kokusai Asset Management Ltd. added WCN to its portfolio by purchasing 16,800 company shares during the most recent quarter which is valued at $1.2 Million. Waste Connections makes up approx 0.03% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.

Waste Connections closed down -2.36 points or -3.37% at $67.61 with 17,33,713 shares getting traded on Wednesday. Post opening the session at $69.98, the shares hit an intraday low of $67.58 and an intraday high of $70.14 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Waste Connections reported $0.45 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.46. The company had revenue of $514.68 million for the quarter, compared to analysts expectations of $515.47 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.

Many Wall Street Analysts have commented on Waste Connections. Company shares were Reiterated by Imperial Capital on Apr 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 75 from a previous price target of $72 .Company shares were Reiterated by Wedbush on Apr 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 71 from a previous price target of $67 .Waste Connections was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Apr 15, 2016.

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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