Franklin Resources Inc. lessened its holdings in Waste Connections, Inc. (NYSE:WCN – Get Rating) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 768,361 shares of the business services provider’s stock after selling 7,941 shares during the period. Franklin Resources Inc. owned about 0.30% of Waste Connections worth $95,264,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund bought a new position in shares of Waste Connections in the 2nd quarter worth approximately $2,405,000. Jennison Associates LLC raised its stake in Waste Connections by 2.5% during the 1st quarter. Jennison Associates LLC now owns 26,915 shares of the business services provider’s stock worth $3,760,000 after acquiring an additional 665 shares during the period. Summit Trail Advisors LLC bought a new stake in Waste Connections during the 2nd quarter worth approximately $285,000. IFG Advisory LLC bought a new stake in Waste Connections during the 2nd quarter worth approximately $218,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Waste Connections during the 1st quarter worth approximately $193,000. Institutional investors own 79.33% of the company’s stock.
Insiders Place Their Bets
In other Waste Connections news, SVP Eric Hansen sold 4,000 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $136.93, for a total value of $547,720.00. Following the completion of the transaction, the senior vice president now directly owns 6,460 shares in the company, valued at $884,567.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Waste Connections news, SVP Eric Hansen sold 4,000 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $136.93, for a total value of $547,720.00. Following the completion of the transaction, the senior vice president now directly owns 6,460 shares in the company, valued at $884,567.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patrick James Shea sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $145.26, for a total transaction of $1,016,820.00. Following the completion of the transaction, the vice president now owns 12,813 shares of the company’s stock, valued at $1,861,216.38. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Waste Connections Stock Performance
WCN stock opened at $141.98 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50-day moving average price of $136.21 and a 200 day moving average price of $132.33. The company has a market capitalization of $36.51 billion, a P/E ratio of 45.51, a PEG ratio of 2.95 and a beta of 0.64. Waste Connections, Inc. has a 1-year low of $113.50 and a 1-year high of $148.20.
Waste Connections (NYSE:WCN – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.09. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Waste Connections had a return on equity of 14.10% and a net margin of 11.59%. As a group, equities research analysts forecast that Waste Connections, Inc. will post 3.81 EPS for the current fiscal year.
Waste Connections Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Wednesday, November 16th will be issued a $0.255 dividend. The ex-dividend date is Tuesday, November 15th. This is an increase from Waste Connections’s previous quarterly dividend of $0.23. This represents a $1.02 dividend on an annualized basis and a yield of 0.72%. Waste Connections’s payout ratio is currently 32.69%.
About Waste Connections
Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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