Rs Investment Management Co Lowers stake in Waste Connections (WCN)

Waste Connections (WCN) : Rs Investment Management Co reduced its stake in Waste Connections by 15.87% during the most recent quarter end. The investment management company now holds a total of 963,696 shares of Waste Connections which is valued at $71,217,134 after selling 181,836 shares in Waste Connections , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Waste Connections makes up approximately 0.70% of Rs Investment Management Co’s portfolio.

Other Hedge Funds, Including , Calamos Advisors boosted its stake in WCN in the latest quarter, The investment management firm added 33,005 additional shares and now holds a total of 613,201 shares of Waste Connections which is valued at $45,315,554. Waste Connections makes up approx 0.41% of Calamos Advisors’s portfolio.Daiwa Securities Group boosted its stake in WCN in the latest quarter, The investment management firm added 18,955 additional shares and now holds a total of 21,655 shares of Waste Connections which is valued at $1,600,305. Waste Connections makes up approx 0.01% of Daiwa Securities Group’s portfolio.Parkwood reduced its stake in WCN by selling 1,527 shares or 14.76% in the most recent quarter. The Hedge Fund company now holds 8,822 shares of WCN which is valued at $653,093. Waste Connections makes up approx 0.11% of Parkwood’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in WCN by selling 1,535 shares or 18.52% in the most recent quarter. The Hedge Fund company now holds 6,752 shares of WCN which is valued at $494,652.

Waste Connections opened for trading at $74.15 and hit $74.56 on the upside on Friday, eventually ending the session at $74.48, with a gain of 0.42% or 0.315 points. The heightened volatility saw the trading volume jump to 8,94,066 shares. Company has a market cap of $9,140 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 Jun 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 80 from a previous price target of $75 .Waste Connections was Downgraded by TD Securities to ” Hold” on Jun 13, 2016. RBC Capital Mkts Initiated Waste Connections on Jun 6, 2016 to “Outperform”, Price Target of the shares are set at $82.

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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