PNC Financial Services Group Inc. Sells 3,989 Shares of Waste Connections, Inc. $WCN

PNC Financial Services Group Inc. decreased its holdings in Waste Connections, Inc. (NYSE:WCN) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,284 shares of the business services provider’s stock after selling 3,989 shares during the period. PNC Financial Services Group Inc.’s holdings in Waste Connections were worth $14,993,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WCN. Asset Dedication LLC acquired a new position in shares of Waste Connections in the second quarter valued at $28,000. Greykasell Wealth Strategies Inc. lifted its position in shares of Waste Connections by 555.2% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock worth $33,000 after buying an additional 161 shares during the last quarter. AlphaCore Capital LLC acquired a new position in Waste Connections in the 2nd quarter worth about $39,000. Caldwell Trust Co bought a new position in shares of Waste Connections during the second quarter valued at $49,000. Finally, TD Private Client Wealth LLC increased its stake in shares of Waste Connections by 479.3% in the third quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock valued at $59,000 after buying an additional 278 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WCN has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $212.00 target price on shares of Waste Connections in a research report on Friday. The Goldman Sachs Group initiated coverage on shares of Waste Connections in a report on Monday, November 24th. They set a “buy” rating and a $202.00 price objective on the stock. UBS Group set a $205.00 price objective on shares of Waste Connections in a report on Monday, January 5th. Wells Fargo & Company assumed coverage on shares of Waste Connections in a report on Thursday, November 13th. They issued an “overweight” rating and a $186.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Waste Connections has an average rating of “Buy” and a consensus target price of $203.75.

Waste Connections Stock Up 0.6%

Waste Connections stock opened at $161.18 on Wednesday. Waste Connections, Inc. has a fifty-two week low of $155.65 and a fifty-two week high of $201.66. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s 50-day simple moving average is $170.41 and its 200 day simple moving average is $174.07. The stock has a market cap of $41.21 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.37 billion. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. Research analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Wednesday, February 25th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, February 25th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections’s dividend payout ratio is presently 33.57%.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.