Greystone Managed Investments adds Waste Connections (WCN) to its portfolio

Waste Connections (WCN) : Greystone Managed Investments added new position in Waste Connections during the most recent quarter end. The investment management firm now holds 1,598,701 shares of Waste Connections which is valued at $123,323,795 , the company said in a statement filed on Aug 9, 2016 with the SEC.Waste Connections makes up approximately 4.82% of Greystone Managed Investments’s portfolio.

Other Hedge Funds, Including , Edge Asset Management Inc boosted its stake in WCN in the latest quarter, The investment management firm added 81,332 additional shares and now holds a total of 612,101 shares of Waste Connections which is valued at $47,217,471. Waste Connections makes up approx 0.41% of Edge Asset Management Inc’s portfolio.Tarbox Group reduced its stake in WCN by selling 12 shares or 44.44% in the most recent quarter. The Hedge Fund company now holds 15 shares of WCN which is valued at $1,117.Eagle Asset Management Inc reduced its stake in WCN by selling 160,643 shares or 4.66% in the most recent quarter. The Hedge Fund company now holds 3,288,999 shares of WCN which is valued at $244,043,726. Waste Connections makes up approx 1.62% of Eagle Asset Management Inc’s portfolio. Vigilant Capital Management added WCN to its portfolio by purchasing 121 company shares during the most recent quarter which is valued at $8,978.

Waste Connections opened for trading at $77.31 and hit $78.07 on the upside on Wednesday, eventually ending the session at $78.03, with a gain of 0.91% or 0.7 points. The heightened volatility saw the trading volume jump to 5,71,054 shares. Company has a market cap of $9,576 M.

On the company’s financial health, Waste Connections reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.55. The company had revenue of $727.60 million for the quarter, compared to analysts expectations of $712.00 million. The company’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on Waste Connections. Company shares were Reiterated by Barclays on Aug 9, 2016 to “Overweight”, Firm has raised the Price Target to $ 86 from a previous price target of $74 .Company shares were Reiterated by Imperial Capital on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .Company shares were Reiterated by Wedbush on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 80 from a previous price target of $77 .

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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