PCJ Investment Counsel Ltd. lowered its holdings in shares of Waste Connections Inc (NYSE:WCN) by 7.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 546,164 shares of the business services provider’s stock after selling 43,428 shares during the period. Waste Connections accounts for approximately 4.0% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 7th largest position. PCJ Investment Counsel Ltd.’s holdings in Waste Connections were worth $48,392,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC bought a new position in Waste Connections during the fourth quarter worth about $30,000. Resources Investment Advisors Inc. bought a new position in Waste Connections during the fourth quarter worth about $32,000. Rehmann Capital Advisory Group grew its holdings in Waste Connections by 3,300.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 442 shares of the business services provider’s stock worth $33,000 after purchasing an additional 429 shares during the period. Essex Savings Bank bought a new position in Waste Connections during the fourth quarter worth about $33,000. Finally, Proficio Capital Partners LLC grew its holdings in Waste Connections by 49.0% during the fourth quarter. Proficio Capital Partners LLC now owns 465 shares of the business services provider’s stock worth $35,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 84.41% of the company’s stock.
Shares of NYSE:WCN opened at $94.56 on Wednesday. Waste Connections Inc has a 12-month low of $70.28 and a 12-month high of $95.39. The company has a market cap of $24.93 billion, a PE ratio of 37.52, a PEG ratio of 2.66 and a beta of 0.26. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 1.47.
Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Waste Connections had a return on equity of 10.58% and a net margin of 10.89%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. As a group, sell-side analysts predict that Waste Connections Inc will post 2.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, May 7th. Waste Connections’s dividend payout ratio is presently 25.40%.
A number of equities analysts recently commented on the company. Bank of America reiterated a “buy” rating and set a $98.00 price target (up previously from $88.00) on shares of Waste Connections in a report on Thursday, April 25th. AltaCorp Capital cut Waste Connections from an “outperform” rating to a “sector perform” rating in a report on Thursday, April 25th. Zacks Investment Research cut Waste Connections from a “hold” rating to a “sell” rating in a report on Saturday, April 27th. TD Securities boosted their price objective on Waste Connections from $88.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada boosted their price objective on Waste Connections from $90.00 to $104.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $95.40.
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About Waste Connections
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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