BlackRock Inc. raised its holdings in Waste Connections Inc (NYSE:WCN) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,875,819 shares of the business services provider’s stock after buying an additional 47,052 shares during the quarter. BlackRock Inc. owned approximately 1.09% of Waste Connections worth $204,009,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new position in shares of Waste Connections in the 3rd quarter valued at approximately $103,000. Cerebellum GP LLC acquired a new stake in shares of Waste Connections during the 4th quarter valued at approximately $125,000. SG Americas Securities LLC acquired a new stake in shares of Waste Connections during the 4th quarter valued at approximately $194,000. Advisor Partners LLC acquired a new stake in shares of Waste Connections during the 4th quarter valued at approximately $216,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Waste Connections during the 3rd quarter valued at approximately $217,000. Institutional investors and hedge funds own 84.21% of the company’s stock.
Several brokerages have weighed in on WCN. BMO Capital Markets reaffirmed a “buy” rating and issued a $80.00 target price (up from $79.00) on shares of Waste Connections in a research report on Thursday. Zacks Investment Research cut Waste Connections from a “buy” rating to a “hold” rating in a research note on Wednesday, March 21st. UBS assumed coverage on Waste Connections in a research note on Thursday, March 15th. They set a “buy” rating and a $91.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 target price on shares of Waste Connections in a research note on Thursday, January 4th. Finally, Bank of America initiated coverage on Waste Connections in a report on Friday, December 22nd. They set a “buy” rating and a $80.00 target price for the company. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $79.28.
In related news, Director Larry Sanford Hughes bought 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price of $71.50 per share, for a total transaction of $160,875.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James Little sold 5,000 shares of Waste Connections stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $70.49, for a total value of $352,450.00. Following the completion of the transaction, the insider now owns 25,709 shares of the company’s stock, valued at approximately $1,812,227.41. The disclosure for this sale can be found here. Insiders have sold a total of 67,571 shares of company stock worth $4,911,600 in the last three months. 0.68% of the stock is owned by insiders.
Shares of NYSE WCN traded down $0.39 during mid-day trading on Friday, reaching $72.36. 899,530 shares of the company traded hands, compared to its average volume of 739,177. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $19,078.87, a price-to-earnings ratio of 33.50, a P/E/G ratio of 2.66 and a beta of 0.18. Waste Connections Inc has a fifty-two week low of $58.33 and a fifty-two week high of $74.59.
Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, February 14th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Waste Connections had a return on equity of 9.63% and a net margin of 12.46%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. equities research analysts forecast that Waste Connections Inc will post 2.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Tuesday, February 27th. Waste Connections’s payout ratio is presently 25.93%.
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Waste Connections Company Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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