Aviva PLC lessened its position in shares of Waste Connections Inc (NYSE:WCN) by 3.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 126,790 shares of the business services provider’s stock after selling 4,599 shares during the quarter. Aviva PLC’s holdings in Waste Connections were worth $10,057,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in WCN. Toronto Dominion Bank increased its position in Waste Connections by 115.0% during the 2nd quarter. Toronto Dominion Bank now owns 1,126,901 shares of the business services provider’s stock valued at $85,916,000 after purchasing an additional 602,814 shares during the period. Carillon Tower Advisers Inc. increased its position in Waste Connections by 23.1% during the 3rd quarter. Carillon Tower Advisers Inc. now owns 1,440,657 shares of the business services provider’s stock valued at $114,921,000 after purchasing an additional 270,165 shares during the period. Putnam Investments LLC increased its position in Waste Connections by 25.9% during the 2nd quarter. Putnam Investments LLC now owns 1,209,506 shares of the business services provider’s stock valued at $91,052,000 after purchasing an additional 248,600 shares during the period. CIBC Asset Management Inc grew its position in shares of Waste Connections by 36.7% during the 2nd quarter. CIBC Asset Management Inc now owns 885,438 shares of the business services provider’s stock worth $66,711,000 after buying an additional 237,878 shares during the period. Finally, California Public Employees Retirement System acquired a new stake in shares of Waste Connections during the 2nd quarter worth approximately $15,323,000. 81.41% of the stock is owned by institutional investors and hedge funds.
In related news, COO Darrell W. Chambliss sold 6,485 shares of Waste Connections stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total value of $518,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael W. Harlan sold 11,900 shares of Waste Connections stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $79.30, for a total transaction of $943,670.00. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Shares of WCN stock opened at $78.48 on Monday. The company has a market cap of $20.67 billion, a PE ratio of 36.33, a P/E/G ratio of 2.67 and a beta of 0.11. Waste Connections Inc has a 52 week low of $65.06 and a 52 week high of $81.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.25 and a quick ratio of 1.25.
Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Monday, October 29th. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Waste Connections had a net margin of 15.14% and a return on equity of 10.07%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. On average, sell-side analysts expect that Waste Connections Inc will post 2.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 27th. Investors of record on Tuesday, November 13th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 9th. This represents a $0.64 annualized dividend and a yield of 0.82%. This is an increase from Waste Connections’s previous quarterly dividend of $0.14. Waste Connections’s dividend payout ratio (DPR) is presently 29.63%.
Several brokerages have recently commented on WCN. BMO Capital Markets raised their price objective on shares of Waste Connections from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. UBS Group set a $90.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research downgraded shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. Royal Bank of Canada raised their price objective on shares of Waste Connections from $84.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 31st. Finally, Oppenheimer set a $87.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, October 31st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $85.30.
Waste Connections Profile
Waste Connections, Inc, a solid waste services company, 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, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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