BB&T Securities LLC increased its stake in Waste Connections Inc (NYSE:WCN) by 28.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,642 shares of the business services provider’s stock after purchasing an additional 8,067 shares during the quarter. BB&T Securities LLC’s holdings in Waste Connections were worth $2,719,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. M&T Bank Corp grew its stake in Waste Connections by 2.0% in the 4th quarter. M&T Bank Corp now owns 10,330 shares of the business services provider’s stock valued at $767,000 after acquiring an additional 202 shares during the last quarter. ETF Managers Group LLC boosted its stake in shares of Waste Connections by 17.3% during the 4th quarter. ETF Managers Group LLC now owns 1,839 shares of the business services provider’s stock worth $137,000 after purchasing an additional 271 shares during the last quarter. Jarislowsky Fraser Ltd acquired a new stake in shares of Waste Connections during the 4th quarter worth about $269,000. Janney Montgomery Scott LLC boosted its stake in shares of Waste Connections by 8.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,915 shares of the business services provider’s stock worth $1,256,000 after purchasing an additional 1,294 shares during the last quarter. Finally, Essex Savings Bank acquired a new stake in shares of Waste Connections during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 81.68% of the company’s stock.
Several research firms have issued reports on WCN. KeyCorp began coverage on shares of Waste Connections in a research note on Monday, February 4th. They set an “overweight” rating and a $94.00 price target on the stock. ValuEngine raised shares of Waste Connections from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. TD Securities set a $87.00 price target on shares of Waste Connections and gave the stock a “hold” rating in a research note on Wednesday, November 28th. Goldman Sachs Group raised shares of Waste Connections to a “buy” rating and set a $94.00 price target on the stock in a research note on Tuesday, December 4th. Finally, Zacks Investment Research reaffirmed a “buy” rating and set a $85.00 price target on shares of Waste Connections in a research note on Saturday, November 17th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $87.40.
Waste Connections stock opened at $83.92 on Thursday. Waste Connections Inc has a 12-month low of $67.63 and a 12-month high of $85.06. The stock has a market cap of $22.04 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 2.50 and a beta of 0.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.25.
Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, February 13th. The business services provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Waste Connections had a net margin of 15.14% and a return on equity of 10.07%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. As a group, equities research analysts expect that Waste Connections Inc will post 2.52 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.76%. Waste Connections’s payout ratio is currently 29.63%.
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Waste Connections Company 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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