Rhumbline Advisers Decreases Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Rhumbline Advisers cut its position in Waste Connections, Inc. (NYSE:WCN) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,808 shares of the business services provider’s stock after selling 253 shares during the quarter. Rhumbline Advisers’ holdings in Waste Connections were worth $8,551,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA boosted its stake in shares of Waste Connections by 153.3% in the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 92 shares during the period. Manchester Capital Management LLC purchased a new position in shares of Waste Connections in the fourth quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new position in shares of Waste Connections in the fourth quarter valued at $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Waste Connections in the fourth quarter valued at $28,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Waste Connections by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 71 shares during the period. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Up 0.1%

Shares of NYSE:WCN opened at $189.09 on Wednesday. The stock has a market capitalization of $48.86 billion, a price-to-earnings ratio of 79.12, a price-to-earnings-growth ratio of 3.07 and a beta of 0.62. Waste Connections, Inc. has a 1-year low of $165.20 and a 1-year high of $201.66. The company’s fifty day moving average is $193.60 and its two-hundred day moving average is $187.59. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.06. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 earnings per share. Equities analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were issued a $0.315 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.67%. Waste Connections’s dividend payout ratio (DPR) is presently 51.85%.

Analyst Upgrades and Downgrades

WCN has been the subject of several analyst reports. Scotiabank upped their target price on shares of Waste Connections from $192.00 to $207.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 8th. BMO Capital Markets upped their target price on shares of Waste Connections from $214.00 to $216.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Wall Street Zen downgraded shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $221.00 price objective on shares of Waste Connections in a research note on Friday, April 25th. Finally, Seaport Res Ptn upgraded shares of Waste Connections to a “strong-buy” rating in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $212.29.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.