Probity Advisors Inc. lessened its stake in shares of Waste Connections Inc (NYSE:WCN) by 10.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,465 shares of the business services provider’s stock after selling 425 shares during the quarter. Probity Advisors Inc.’s holdings in Waste Connections were worth $307,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc raised its holdings in shares of Waste Connections by 0.5% during the third quarter. Vanguard Group Inc now owns 23,765,851 shares of the business services provider’s stock valued at $1,895,802,000 after purchasing an additional 117,287 shares during the period. Bank of Montreal Can increased its position in shares of Waste Connections by 1.2% during the first quarter. Bank of Montreal Can now owns 8,258,481 shares of the business services provider’s stock worth $731,618,000 after acquiring an additional 94,554 shares in the last quarter. Lunia Capital LP bought a new stake in shares of Waste Connections during the fourth quarter worth about $7,205,000. Norges Bank bought a new stake in shares of Waste Connections during the fourth quarter worth about $378,868,000. Finally, Findlay Park Partners LLP increased its position in shares of Waste Connections by 10.9% during the fourth quarter. Findlay Park Partners LLP now owns 4,138,563 shares of the business services provider’s stock worth $307,288,000 after acquiring an additional 405,209 shares in the last quarter. 84.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WCN stock traded up $0.37 during trading on Wednesday, reaching $94.93. 719,664 shares of the company’s stock traded hands, compared to its average volume of 764,567. The stock has a market capitalization of $24.93 billion, a P/E ratio of 37.67, a PEG ratio of 2.66 and a beta of 0.26. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.67. Waste Connections Inc has a 1 year low of $70.28 and a 1 year high of $95.39.
Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Waste Connections had a net margin of 10.89% and a return on equity of 10.58%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the company posted $0.56 EPS. Waste Connections’s revenue was up 9.2% compared to the same quarter last year. On average, equities analysts predict that Waste Connections Inc will post 2.8 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, May 7th. Waste Connections’s dividend payout ratio is presently 25.40%.
Several research firms have recently commented on WCN. Bank of America reissued a “buy” rating and set a $98.00 target price (up from $88.00) on shares of Waste Connections in a research report on Thursday, April 25th. AltaCorp Capital downgraded shares of Waste Connections from an “outperform” rating to a “sector perform” rating in a research report on Thursday, April 25th. Zacks Investment Research downgraded shares of Waste Connections from a “hold” rating to a “sell” rating in a research report on Saturday, April 27th. TD Securities upped their price objective on shares of Waste Connections from $88.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada upped their price objective on shares of Waste Connections from $90.00 to $104.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $95.40.
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Waste Connections Company Profile
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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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