Eagle Asset Management Inc Lowers stake in Waste Connections (WCN)

Waste Connections (WCN) : Eagle Asset Management Inc reduced its stake in Waste Connections by 2.99% during the most recent quarter end. The investment management company now holds a total of 3,190,585 shares of Waste Connections which is valued at $231,827,906 after selling 98,414 shares in Waste Connections , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Waste Connections makes up approximately 1.60% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , British Columbia Investment Management Corp reduced its stake in WCN by selling 25,450 shares or 36.91% in the most recent quarter. The Hedge Fund company now holds 43,495 shares of WCN which is valued at $3,160,347. Waste Connections makes up approx 0.03% of British Columbia Investment Management Corp’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in WCN in the latest quarter, The investment management firm added 21,191 additional shares and now holds a total of 38,491 shares of Waste Connections which is valued at $2,784,054. Waste Connections makes up approx 0.06% of Oregon Public Employees Retirement Fund’s portfolio.Dorsey Wright Associates boosted its stake in WCN in the latest quarter, The investment management firm added 3,098 additional shares and now holds a total of 37,622 shares of Waste Connections which is valued at $2,721,199. Waste Connections makes up approx 1.37% of Dorsey Wright Associates’s portfolio.Simplex Trading reduced its stake in WCN by selling 31,762 shares or 73.12% in the most recent quarter. The Hedge Fund company now holds 11,676 shares of WCN which is valued at $841,840. Waste Connections makes up approx 0.11% of Simplex Trading’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in WCN by selling 699 shares or 10.35% in the most recent quarter. The Hedge Fund company now holds 6,053 shares of WCN which is valued at $436,845.

Waste Connections opened for trading at $72.02 and hit $72.81 on the upside on Tuesday, eventually ending the session at $72.66, with a gain of 0.46% or 0.33 points. The heightened volatility saw the trading volume jump to 8,46,568 shares. Company has a market cap of $12,718 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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