Cidel Asset Management Inc. Sells 95,922 Shares of Waste Connections, Inc. $WCN

Cidel Asset Management Inc. reduced its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 58.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 67,753 shares of the business services provider’s stock after selling 95,922 shares during the period. Cidel Asset Management Inc.’s holdings in Waste Connections were worth $11,898,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in WCN. Integrated Wealth Concepts LLC acquired a new stake in shares of Waste Connections during the first quarter worth $577,000. American Century Companies Inc. boosted its stake in Waste Connections by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 19,620 shares of the business services provider’s stock worth $3,663,000 after purchasing an additional 564 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Waste Connections by 1.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,056 shares of the business services provider’s stock worth $1,318,000 after purchasing an additional 115 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of Waste Connections by 2.1% in the second quarter. Lido Advisors LLC now owns 2,949 shares of the business services provider’s stock valued at $551,000 after purchasing an additional 61 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Waste Connections by 69.2% in the second quarter. Fisher Asset Management LLC now owns 1,736 shares of the business services provider’s stock valued at $324,000 after purchasing an additional 710 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Analyst Upgrades and Downgrades

WCN has been the subject of several recent research reports. UBS Group set a $205.00 price objective on Waste Connections in a research report on Monday, January 5th. Wolfe Research assumed coverage on Waste Connections in a research note on Friday, March 13th. They issued an “outperform” rating and a $199.00 target price on the stock. BNP Paribas Exane began coverage on Waste Connections in a research report on Tuesday, January 6th. They set an “outperform” rating for the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $205.00 price target (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Waste Connections currently has an average rating of “Buy” and an average target price of $203.52.

Waste Connections Stock Performance

WCN opened at $165.96 on Monday. Waste Connections, Inc. has a 52-week low of $154.90 and a 52-week high of $201.66. The firm has a market capitalization of $42.36 billion, a PE ratio of 39.80, a PEG ratio of 2.85 and a beta of 0.61. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. The business’s 50-day simple moving average is $165.97 and its 200 day simple moving average is $170.00.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the company earned $1.16 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, 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 company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, February 25th. Waste Connections’s dividend payout ratio is 33.57%.

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.