Renaissance Technologies LLC lowered its position in shares of Waste Connections Inc (NYSE:WCN) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,775,650 shares of the business services provider’s stock after selling 201,061 shares during the quarter. Renaissance Technologies LLC’s holdings in Waste Connections were worth $221,406,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in WCN. Zions Bancorporation acquired a new position in Waste Connections during the 2nd quarter worth approximately $178,000. Nisa Investment Advisors LLC acquired a new position in Waste Connections during the 3rd quarter worth approximately $204,000. Trexquant Investment LP acquired a new position in Waste Connections during the 2nd quarter worth approximately $216,000. Cumberland Partners Ltd acquired a new position in Waste Connections during the 2nd quarter worth approximately $236,000. Finally, Signition LP acquired a new position in Waste Connections during the 3rd quarter worth approximately $255,000. 81.72% of the stock is owned by hedge funds and other institutional investors.
WCN opened at $76.56 on Thursday. Waste Connections Inc has a 1-year low of $65.06 and a 1-year high of $81.36. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $20.52 billion, a P/E ratio of 35.44, a price-to-earnings-growth ratio of 2.65 and a beta of 0.14.
Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Monday, October 29th. The business services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Waste Connections had a return on equity of 10.07% and a net margin of 15.14%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts expect that Waste Connections Inc will post 2.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 27th. Investors of record on Tuesday, November 13th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Friday, November 9th. This is a boost from Waste Connections’s previous quarterly dividend of $0.14. Waste Connections’s dividend payout ratio is 29.63%.
WCN has been the topic of a number of analyst reports. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Saturday, October 13th. Oppenheimer set a $87.00 price objective on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, October 31st. BMO Capital Markets upped their price objective on Waste Connections from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. UBS Group set a $90.00 price objective on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada upped their price objective on Waste Connections from $84.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 31st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $86.09.
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About Waste Connections
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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