2Xideas AG Reduces Stake in Waste Connections, Inc. $WCN

2Xideas AG trimmed its holdings in Waste Connections, Inc. (NYSE:WCN) by 21.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,745 shares of the business services provider’s stock after selling 8,229 shares during the quarter. Waste Connections comprises approximately 1.1% of 2Xideas AG’s portfolio, making the stock its 28th biggest position. 2Xideas AG’s holdings in Waste Connections were worth $5,405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WCN. Asset Dedication LLC acquired a new stake in shares of Waste Connections during the second quarter worth about $28,000. Greykasell Wealth Strategies Inc. boosted its holdings in shares of Waste Connections by 555.2% in the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 161 shares during the period. AlphaCore Capital LLC purchased a new position in shares of Waste Connections during the second quarter worth approximately $39,000. Caldwell Trust Co purchased a new position in shares of Waste Connections during the second quarter worth approximately $49,000. Finally, TD Private Client Wealth LLC increased its holdings in shares of Waste Connections by 479.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 278 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Price Performance

WCN stock opened at $166.51 on Friday. The stock’s 50 day moving average price is $167.64 and its 200 day moving average price is $171.93. The firm has a market cap of $42.57 billion, a P/E ratio of 39.93, a PEG ratio of 2.87 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. Waste Connections, Inc. has a 1 year low of $155.65 and a 1 year high of $201.66.

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

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Wednesday, February 25th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, February 25th. Waste Connections’s dividend payout ratio is currently 33.57%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $210.00 price target (down from $219.00) on shares of Waste Connections in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft set a $212.00 target price on shares of Waste Connections in a research note on Friday, February 13th. Morgan Stanley set a $205.00 price target on Waste Connections and gave the stock an “overweight” rating in a report on Friday, February 13th. TD Cowen reduced their price objective on Waste Connections from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, BNP Paribas Exane assumed coverage on Waste Connections in a research report on Tuesday, January 6th. They set an “outperform” rating for the company. Four research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $203.52.

About Waste Connections

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.