Candriam Luxembourg S.C.A. boosted its position in shares of Waste Connections Inc (NYSE:WCN) by 105.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,951 shares of the business services provider’s stock after buying an additional 26,627 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Waste Connections were worth $4,717,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Waste Connections by 28.6% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 50,056 shares of the business services provider’s stock valued at $4,585,000 after purchasing an additional 11,142 shares in the last quarter. Pacifica Partners Inc. purchased a new position in shares of Waste Connections in the fourth quarter worth about $1,026,000. US Bancorp DE lifted its stake in shares of Waste Connections by 2.1% in the fourth quarter. US Bancorp DE now owns 16,025 shares of the business services provider’s stock worth $1,455,000 after buying an additional 335 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Waste Connections in the fourth quarter worth about $8,391,000. Finally, Pinnacle Associates Ltd. lifted its stake in shares of Waste Connections by 21.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 8,320 shares of the business services provider’s stock worth $755,000 after buying an additional 1,455 shares in the last quarter. Institutional investors own 82.77% of the company’s stock.
Shares of WCN stock opened at $103.81 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50-day moving average is $96.03 and its two-hundred day moving average is $92.25. Waste Connections Inc has a 12 month low of $81.26 and a 12 month high of $103.99. The company has a market capitalization of $27.37 billion, a PE ratio of 48.51, a price-to-earnings-growth ratio of 3.86 and a beta of 0.08.
Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, February 12th. The business services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Waste Connections had a net margin of 10.70% and a return on equity of 10.62%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. Waste Connections’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Waste Connections Inc will post 2.66 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Waste Connections’s previous quarterly dividend of $0.14. This represents a $0.74 dividend on an annualized basis and a yield of 0.71%. Waste Connections’s payout ratio is 29.37%.
In other Waste Connections news, VP David Eddie sold 934 shares of Waste Connections stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $90.55, for a total transaction of $84,573.70. Following the transaction, the vice president now directly owns 41,023 shares of the company’s stock, valued at $3,714,632.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by insiders.
Several equities analysts have recently weighed in on WCN shares. Raymond James raised their price target on shares of Waste Connections from $109.00 to $117.00 and gave the stock a “strong-buy” rating in a research note on Friday. ValuEngine raised shares of Waste Connections from a “sell” rating to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group started coverage on shares of Waste Connections in a research note on Wednesday, November 27th. They issued a “buy” rating and a $106.00 price target on the stock. KeyCorp raised their price target on shares of Waste Connections from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded shares of Waste Connections from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $96.00 to $98.00 in a research note on Thursday, January 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Waste Connections has an average rating of “Buy” and a consensus target price of $104.80.
Waste Connections Profile
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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