Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Waste Connections Inc (NYSE:WCN) by 60.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,544 shares of the business services provider’s stock after selling 89,634 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Waste Connections were worth $5,512,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. First Republic Investment Management Inc. grew its stake in Waste Connections by 7.9% in the fourth quarter. First Republic Investment Management Inc. now owns 2,825 shares of the business services provider’s stock worth $256,000 after purchasing an additional 208 shares in the last quarter. Hexavest Inc. bought a new position in Waste Connections in the first quarter worth about $6,176,000. State Street Corp lifted its holdings in Waste Connections by 6.7% in the first quarter. State Street Corp now owns 2,903,787 shares of the business services provider’s stock worth $225,044,000 after acquiring an additional 183,213 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Waste Connections by 615.9% in the first quarter. Alliancebernstein L.P. now owns 148,787 shares of the business services provider’s stock worth $11,531,000 after acquiring an additional 128,005 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Waste Connections by 37.0% in the first quarter. AQR Capital Management LLC now owns 63,782 shares of the business services provider’s stock worth $4,943,000 after acquiring an additional 17,235 shares during the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.
Shares of NYSE:WCN opened at $102.44 on Friday. Waste Connections Inc has a 12 month low of $70.87 and a 12 month high of $105.17. The stock has a market cap of $26.91 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 4.95 and a beta of 0.47. The stock’s 50 day moving average price is $95.00 and its 200 day moving average price is $92.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.98 and a quick ratio of 1.98.
Waste Connections (NYSE:WCN) last announced its earnings results on Thursday, May 7th. The business services provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Waste Connections had a return on equity of 10.71% and a net margin of 10.63%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 earnings per share. On average, sell-side analysts expect that Waste Connections Inc will post 2.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be given a $0.185 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $0.74 annualized dividend and a yield of 0.72%. Waste Connections’s dividend payout ratio (DPR) is 27.21%.
WCN has been the topic of a number of recent research reports. BMO Capital Markets raised their target price on shares of Waste Connections from $104.00 to $106.00 in a report on Friday, July 10th. Raymond James lifted their price target on Waste Connections from $106.00 to $114.00 and gave the company a “strong-buy” rating in a report on Wednesday. UBS Group cut their price target on Waste Connections from $156.00 to $146.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Royal Bank of Canada lifted their price target on Waste Connections from $98.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Deutsche Bank lifted their price target on Waste Connections from $96.00 to $105.00 and gave the company a “buy” rating in a report on Monday, May 11th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Waste Connections presently has a consensus rating of “Buy” and a consensus price target of $107.93.
In other Waste Connections news, CEO Worthing Jackman sold 18,000 shares of Waste Connections stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $92.26, for a total value of $1,660,680.00. Following the transaction, the chief executive officer now owns 113,239 shares in the company, valued at $10,447,430.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.30% of the company’s stock.
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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