UBS Asset Management Americas Inc. lessened its holdings in Waste Connections, Inc. (NYSE:WCN) by 2.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,002,320 shares of the business services provider’s stock after selling 22,502 shares during the period. UBS Asset Management Americas Inc.’s holdings in Waste Connections were worth $102,808,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP bought a new stake in shares of Waste Connections in the 1st quarter worth about $482,000. Brasada Capital Management LP grew its position in Waste Connections by 2.0% in the third quarter. Brasada Capital Management LP now owns 118,186 shares of the business services provider’s stock worth $12,268,000 after acquiring an additional 2,261 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Waste Connections during the third quarter worth approximately $1,423,000. Morgan Stanley raised its position in Waste Connections by 15.2% during the third quarter. Morgan Stanley now owns 443,200 shares of the business services provider’s stock valued at $46,004,000 after purchasing an additional 58,544 shares during the period. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Waste Connections in the 3rd quarter valued at approximately $302,000. 80.77% of the stock is currently owned by institutional investors.
Shares of NYSE WCN opened at $112.42 on Thursday. The company’s fifty day moving average price is $102.95 and its 200 day moving average price is $102.70. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 1.45. Waste Connections, Inc. has a 1 year low of $81.34 and a 1 year high of $112.42. The company has a market capitalization of $29.51 billion, a PE ratio of 144.13, a price-to-earnings-growth ratio of 4.95 and a beta of 0.44.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 17th. Investors of record on Wednesday, March 3rd were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.73%. The ex-dividend date was Tuesday, March 2nd. This is a positive change from Waste Connections’s previous quarterly dividend of $0.15. Waste Connections’s payout ratio is presently 22.79%.
WCN has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on Waste Connections in a research report on Wednesday. They set a “buy” rating and a $124.00 target price on the stock. Raymond James boosted their price objective on shares of Waste Connections from $118.00 to $120.00 and gave the company a “strong-buy” rating in a research report on Friday, January 8th. Royal Bank of Canada lowered their target price on shares of Waste Connections from $116.00 to $113.00 and set an “outperform” rating for the company in a report on Thursday, February 25th. Morgan Stanley upped their price target on shares of Waste Connections from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, January 6th. Finally, BMO Capital Markets raised their price objective on shares of Waste Connections from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, March 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Waste Connections currently has an average rating of “Buy” and an average price target of $114.50.
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 five segments: Southern, Western, Eastern, Canada, Central, and Corporate. 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.
Further Reading: Momentum Indicators
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