Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of Waste Connections Inc (NYSE:WCN) by 6.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,947 shares of the business services provider’s stock after selling 3,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Waste Connections were worth $4,303,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Hillsdale Investment Management Inc. boosted its holdings in Waste Connections by 65.4% in the third quarter. Hillsdale Investment Management Inc. now owns 45,579 shares of the business services provider’s stock valued at $3,634,000 after purchasing an additional 18,015 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Waste Connections by 17.7% in the third quarter. Bank of New York Mellon Corp now owns 397,551 shares of the business services provider’s stock valued at $31,713,000 after purchasing an additional 59,866 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Waste Connections by 21.5% in the third quarter. Crossmark Global Holdings Inc. now owns 49,312 shares of the business services provider’s stock valued at $3,934,000 after purchasing an additional 8,723 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in Waste Connections by 6.4% in the third quarter. Eagle Asset Management Inc. now owns 2,219,359 shares of the business services provider’s stock valued at $177,038,000 after purchasing an additional 132,980 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Waste Connections in the third quarter valued at approximately $5,667,000. Institutional investors own 81.41% of the company’s stock.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Saturday, October 13th. BMO Capital Markets upped their price target on Waste Connections from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 31st. Oppenheimer set a $87.00 price target on Waste Connections and gave the company a “buy” rating in a report on Wednesday, October 31st. UBS Group set a $90.00 price target on Waste Connections and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, Royal Bank of Canada upped their price target on Waste Connections from $84.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, October 31st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $84.90.
WCN stock opened at $76.01 on Monday. The company has a market capitalization of $20.02 billion, a PE ratio of 35.19, a PEG ratio of 2.59 and a beta of 0.11. Waste Connections Inc has a twelve month low of $65.06 and a twelve month high of $81.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.25 and a quick ratio of 1.25.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Monday, October 29th. The business services provider reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.01. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Waste Connections had a return on equity of 10.07% and a net margin of 15.14%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. On average, sell-side analysts predict that Waste Connections Inc will post 2.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be issued a $0.16 dividend. This is an increase from Waste Connections’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, November 9th. Waste Connections’s dividend payout ratio is presently 29.63%.
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Waste Connections Profile
Waste Connections, Inc, a solid waste services company, 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, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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