Bourgeon Capital Management Lowers stake in Waste Connections (WCN)

Waste Connections (WCN) : Bourgeon Capital Management reduced its stake in Waste Connections by 23.38% during the most recent quarter end. The investment management company now holds a total of 67,172 shares of Waste Connections which is valued at $4.7 Million after selling 20,494 shares in Waste Connections , the firm said in a disclosure report filed with the SEC on May 11, 2016.Waste Connections makes up approximately 3.15% of Bourgeon Capital Management’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp reduced its stake in WCN by selling 22,616 shares or 49.38% in the most recent quarter. The Hedge Fund company now holds 23,183 shares of WCN which is valued at $1.6 Million. Waste Connections makes up approx 0.01% of Royce Associates Lp’s portfolio.New York State Common Retirement Fund boosted its stake in WCN in the latest quarter, The investment management firm added 81,500 additional shares and now holds a total of 388,600 shares of Waste Connections which is valued at $26.7 Million. Waste Connections makes up approx 0.04% of New York State Common Retirement Fund’s portfolio. Bluecrest Capital Management Ltd added WCN to its portfolio by purchasing 51,096 company shares during the most recent quarter which is valued at $3.5 Million. Waste Connections makes up approx 0.31% of Bluecrest Capital Management Ltd’s portfolio.Retirement Systems Of Alabama boosted its stake in WCN in the latest quarter, The investment management firm added 585 additional shares and now holds a total of 157,823 shares of Waste Connections which is valued at $10.6 Million. Waste Connections makes up approx 0.06% of Retirement Systems Of Alabama’s portfolio.

Waste Connections closed down -0.27 points or -0.39% at $69.47 with 4,07,885 shares getting traded on Monday. Post opening the session at $69.71, the shares hit an intraday low of $69.4 and an intraday high of $70.175 and the price fluctuated in this range throughout the day.Shares ended Monday 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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