Snyder Capital Management L P Lowers stake in Waste Connections (WCN)

Waste Connections (WCN) : Snyder Capital Management L P reduced its stake in Waste Connections by 19.25% during the most recent quarter end. The investment management company now holds a total of 1,147,244 shares of Waste Connections which is valued at $80 Million after selling 273,418 shares in Waste Connections , the firm said in a disclosure report filed with the SEC on May 12, 2016.Waste Connections makes up approximately 5.41% of Snyder Capital Management L P’s portfolio.

Other Hedge Funds, Including , Denver Investment Advisors boosted its stake in WCN in the latest quarter, The investment management firm added 22,333 additional shares and now holds a total of 37,480 shares of Waste Connections which is valued at $2.6 Million. Waste Connections makes up approx 0.12% of Denver Investment Advisors’s portfolio.Martingale Asset Management L P boosted its stake in WCN in the latest quarter, The investment management firm added 379 additional shares and now holds a total of 292,320 shares of Waste Connections which is valued at $20.4 Million. Waste Connections makes up approx 0.40% of Martingale Asset Management L P’s portfolio.Norges Bank reduced its stake in WCN by selling 766,050 shares or 23.99% in the most recent quarter. The Hedge Fund company now holds 2,427,478 shares of WCN which is valued at $169.3 Million. Waste Connections makes up approx 0.08% of Norges Bank’s portfolio.State Treasurer State Of Michigan boosted its stake in WCN in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 48,850 shares of Waste Connections which is valued at $3.4 Million. Waste Connections makes up approx 0.03% of State Treasurer State Of Michigan’s portfolio.

Waste Connections opened for trading at $69.44 and hit $71.145 on the upside on Friday, eventually ending the session at $70.23, with a gain of 1.74% or 1.2 points. The heightened volatility saw the trading volume jump to 10,25,511 shares. Company has a market cap of $8,618 M.

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.

Leave a Reply

Waste Connections - Is it time to Sell?

Top Brokerage Firms are advising their investors on Waste Connections. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.