Waste Connections, Inc. $WCN Holdings Reduced by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC lessened its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 4.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 64,182 shares of the business services provider’s stock after selling 2,830 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Waste Connections were worth $11,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Waste Connections by 2.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,941 shares of the business services provider’s stock worth $1,355,000 after buying an additional 178 shares in the last quarter. FORA Capital LLC acquired a new position in Waste Connections during the 1st quarter worth $210,000. Truvestments Capital LLC boosted its position in Waste Connections by 3,166.7% during the 1st quarter. Truvestments Capital LLC now owns 490 shares of the business services provider’s stock worth $96,000 after acquiring an additional 475 shares during the period. WPG Advisers LLC bought a new position in shares of Waste Connections in the first quarter worth $175,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Waste Connections by 56.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,147,904 shares of the business services provider’s stock valued at $223,779,000 after purchasing an additional 413,212 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Up 0.2%

WCN opened at $178.13 on Friday. The firm has a market cap of $45.55 billion, a price-to-earnings ratio of 74.22, a PEG ratio of 3.52 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s 50-day simple moving average is $172.74 and its 200-day simple moving average is $178.55. Waste Connections, Inc. has a twelve month low of $163.27 and a twelve month high of $201.66.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.06. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 earnings per share. Equities research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Wednesday, November 5th were given a dividend of $0.35 per share. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, November 5th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s dividend payout ratio is currently 58.33%.

Insiders Place Their Bets

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total value of $1,569,960.00. Following the completion of the transaction, the director owned 14,883 shares in the company, valued at approximately $2,596,190.52. The trade was a 37.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WCN shares. The Goldman Sachs Group initiated coverage on shares of Waste Connections in a research note on Monday, November 24th. They set a “buy” rating and a $202.00 price objective on the stock. Stifel Nicolaus decreased their price objective on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $220.00 target price (up previously from $215.00) on shares of Waste Connections in a report on Wednesday, December 17th. Wells Fargo & Company started coverage on Waste Connections in a report on Thursday, November 13th. They set an “overweight” rating and a $186.00 price target for the company. Finally, National Bankshares cut their price objective on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Waste Connections currently has an average rating of “Buy” and an average target price of $208.37.

Waste Connections Profile

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.