Cnh Partners adds Waste Connections (WCN) to its portfolio

Waste Connections (WCN) : Cnh Partners added new position in Waste Connections during the most recent quarter end. The investment management firm now holds 1,532,652 shares of Waste Connections which is valued at $120,159,917 , the company said in a statement filed on Aug 15, 2016 with the SEC.Waste Connections makes up approximately 2.37% of Cnh Partners’s portfolio.

Other Hedge Funds, Including , Point72 Asset Management sold out all of its stake in WCN during the most recent quarter. The investment firm sold 61,500 shares of WCN which is valued $4,821,600.Waratah Capital Advisors Ltd. boosted its stake in WCN in the latest quarter, The investment management firm added 57,330 additional shares and now holds a total of 236,519 shares of Waste Connections which is valued at $18,344,414. Waste Connections makes up approx 3.61% of Waratah Capital Advisors Ltd.’s portfolio. Gabelli Securities sold out all of its stake in WCN during the most recent quarter. The investment firm sold 16,780 shares of WCN which is valued $1,301,457.Bourgeon Capital Management reduced its stake in WCN by selling 850 shares or 1.27% in the most recent quarter. The Hedge Fund company now holds 66,322 shares of WCN which is valued at $4,834,211. Waste Connections makes up approx 2.99% of Bourgeon Capital Management’s portfolio.Miller Howard Investments Inc Ny reduced its stake in WCN by selling 1,161 shares or 1.33% in the most recent quarter. The Hedge Fund company now holds 86,428 shares of WCN which is valued at $6,398,265. Waste Connections makes up approx 0.11% of Miller Howard Investments Inc Ny’s portfolio.

Waste Connections opened for trading at $76.11 and hit $77.97 on the upside on Thursday, eventually ending the session at $77.8, with a gain of 1.79% or 1.37 points. The heightened volatility saw the trading volume jump to 8,92,865 shares. Company has a market cap of $13,618 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. Macquarie Initiated Waste Connections on Aug 26, 2016 to “Outperform”, Price Target of the shares are set at $89.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 .

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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