Waste Connections (WCN) : K2 Principal Fund scooped up 123,915 additional shares in Waste Connections during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 127,668 shares of Waste Connections which is valued at $10,009,171.Waste Connections makes up approximately 2.33% of K2 Principal Fund’s portfolio.
Other Hedge Funds, Including , Oppenheimerfunds reduced its stake in WCN by selling 578,413 shares or 21.07% in the most recent quarter. The Hedge Fund company now holds 2,167,239 shares of WCN which is valued at $169,911,538. Waste Connections makes up approx 0.21% of Oppenheimerfunds’s portfolio.Ubs Asset Management Americas Inc reduced its stake in WCN by selling 83,528 shares or 23.55% in the most recent quarter. The Hedge Fund company now holds 271,085 shares of WCN which is valued at $21,426,558. Waste Connections makes up approx 0.02% of Ubs Asset Management Americas Inc’s portfolio.Oak Ridge Investments reduced its stake in WCN by selling 1,829,375 shares or 53.53% in the most recent quarter. The Hedge Fund company now holds 1,587,983 shares of WCN which is valued at $123,163,961. Waste Connections makes up approx 2.98% of Oak Ridge Investments’s portfolio. Acadian Asset Management sold out all of its stake in WCN during the most recent quarter. The investment firm sold 8,234 shares of WCN which is valued $610,963.
Waste Connections closed down -0.42 points or -0.54% at $77.88 with 7,86,311 shares getting traded on Tuesday. Post opening the session at $78.28, the shares hit an intraday low of $77.62 and an intraday high of $78.615 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.