UBS Asset Management Americas Inc. lowered its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,002,320 shares of the business services provider’s stock after selling 22,502 shares during the period. UBS Asset Management Americas Inc. owned 0.38% of Waste Connections worth $102,808,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Hoover Financial Advisors Inc. bought a new stake in shares of Waste Connections during the 4th quarter valued at $28,000. Whittier Trust Co. grew its holdings in Waste Connections by 225.0% during the 4th quarter. Whittier Trust Co. now owns 325 shares of the business services provider’s stock valued at $33,000 after buying an additional 225 shares in the last quarter. Truvestments Capital LLC increased its position in shares of Waste Connections by 30.8% during the fourth quarter. Truvestments Capital LLC now owns 693 shares of the business services provider’s stock valued at $71,000 after buying an additional 163 shares during the period. Merrion Investment Management Co LLC purchased a new stake in shares of Waste Connections in the fourth quarter worth about $103,000. Finally, Newfound Research LLC boosted its position in shares of Waste Connections by 313.6% in the fourth quarter. Newfound Research LLC now owns 1,154 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 875 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on WCN shares. Morgan Stanley increased their target price on shares of Waste Connections from $119.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 6th. BMO Capital Markets lifted their price objective on Waste Connections from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. They noted that the move was a valuation call. Royal Bank of Canada reduced their target price on Waste Connections from $116.00 to $113.00 and set an “outperform” rating for the company in a research report on Thursday, February 25th. The Goldman Sachs Group assumed coverage on Waste Connections in a report on Wednesday. They issued a “buy” rating and a $124.00 price target on the stock. Finally, Raymond James boosted their price objective on Waste Connections from $118.00 to $120.00 and gave the stock a “strong-buy” rating in a report on Friday, January 8th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Waste Connections presently has a consensus rating of “Buy” and an average target price of $114.50.
Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Tuesday, February 16th. The business services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.34 billion. Waste Connections had a return on equity of 10.44% and a net margin of 3.83%. Equities research analysts predict that Waste Connections, Inc. will post 2.5 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 17th. Stockholders of record on Wednesday, March 3rd were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, March 2nd. This is an increase from Waste Connections’s previous quarterly dividend of $0.15. This represents a $0.82 annualized dividend and a dividend yield of 0.73%. Waste Connections’s dividend payout ratio (DPR) is presently 22.79%.
About Waste Connections
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through five segments: Southern, Western, Eastern, Canada, Central, and Corporate. 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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