CIBC Private Wealth Group LLC Sells 6,486 Shares of Waste Connections, Inc. $WCN

CIBC Private Wealth Group LLC lowered its stake in Waste Connections, Inc. (NYSE:WCN) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 262,316 shares of the business services provider’s stock after selling 6,486 shares during the quarter. CIBC Private Wealth Group LLC owned 0.10% of Waste Connections worth $46,115,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Lido Advisors LLC lifted its holdings in shares of Waste Connections by 2.1% during the 2nd quarter. Lido Advisors LLC now owns 2,949 shares of the business services provider’s stock valued at $551,000 after buying an additional 61 shares during the period. Legacy Wealth Asset Management LLC grew its holdings in shares of Waste Connections by 0.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 7,895 shares of the business services provider’s stock worth $1,388,000 after acquiring an additional 61 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of Waste Connections by 1.6% in the second quarter. Valeo Financial Advisors LLC now owns 4,052 shares of the business services provider’s stock worth $757,000 after acquiring an additional 63 shares during the period. Kestra Private Wealth Services LLC increased its position in Waste Connections by 2.6% during the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock valued at $449,000 after acquiring an additional 64 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its position in Waste Connections by 4.3% during the third quarter. Integrated Advisors Network LLC now owns 1,685 shares of the business services provider’s stock valued at $296,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Down 1.9%

Shares of WCN opened at $163.82 on Thursday. The firm has a market cap of $41.81 billion, a P/E ratio of 39.29, a price-to-earnings-growth ratio of 2.87 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.62 and a quick ratio of 0.62. Waste Connections, Inc. has a 1 year low of $155.65 and a 1 year high of $201.66. The company has a 50 day simple moving average of $167.27 and a two-hundred day simple moving average of $171.48.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, February 11th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. On average, equities analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, February 25th. Waste Connections’s dividend payout ratio is 33.57%.

Analyst Ratings Changes

WCN has been the topic of several research reports. UBS Group set a $205.00 target price on Waste Connections in a research report on Monday, January 5th. The Goldman Sachs Group initiated coverage on shares of Waste Connections in a research report on Monday, November 24th. They set a “buy” rating and a $202.00 price target for the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $210.00 price objective (down from $219.00) on shares of Waste Connections in a research note on Tuesday, February 17th. JPMorgan Chase & Co. cut their target price on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Finally, Barclays set a $176.00 target price on shares of Waste Connections and gave the company an “equal weight” rating in a report on Friday, February 13th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $203.52.

Waste Connections Company 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.