Simplex Trading Lowers stake in Waste Connections (WCN)

Waste Connections (WCN) : Simplex Trading reduced its stake in Waste Connections by 73.12% during the most recent quarter end. The investment management company now holds a total of 11,676 shares of Waste Connections which is valued at $841,840 after selling 31,762 shares in Waste Connections , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Waste Connections makes up approximately 0.11% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , 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 closed down -0.6 points or -0.83% at $72.1 with 9,69,460 shares getting traded on Friday. Post opening the session at $72.51, the shares hit an intraday low of $71.86 and an intraday high of $72.57 and the price fluctuated in this range throughout the day.Shares ended Friday 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. 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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