Aviva PLC reduced its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 59.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,360 shares of the business services provider's stock after selling 187,116 shares during the period. Aviva PLC owned approximately 0.05% of Waste Connections worth $22,192,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Waste Connections during the fourth quarter worth about $687,935,000. Principal Financial Group Inc. lifted its position in Waste Connections by 307.1% during the third quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider's stock valued at $344,615,000 after buying an additional 1,453,733 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Waste Connections in the 4th quarter worth about $240,422,000. Geode Capital Management LLC increased its holdings in Waste Connections by 239.9% in the 4th quarter. Geode Capital Management LLC now owns 647,727 shares of the business services provider's stock worth $115,558,000 after buying an additional 457,137 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Waste Connections during the 4th quarter valued at $66,387,000. Institutional investors own 86.09% of the company's stock.
Wall Street Analysts Forecast Growth
WCN has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Waste Connections from $214.00 to $219.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Citigroup decreased their price objective on Waste Connections from $218.00 to $209.00 and set a "neutral" rating on the stock in a research report on Tuesday. William Blair assumed coverage on Waste Connections in a report on Thursday, April 3rd. They issued an "outperform" rating for the company. StockNews.com downgraded Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group cut their target price on Waste Connections from $225.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.43.
Check Out Our Latest Report on Waste Connections
Waste Connections Stock Up 0.8 %
WCN traded up $1.62 on Friday, hitting $193.44. The company had a trading volume of 527,090 shares, compared to its average volume of 958,692. The stock has a market capitalization of $49.98 billion, a price-to-earnings ratio of 80.88, a P/E/G ratio of 3.07 and a beta of 0.67. The stock has a fifty day moving average price of $189.33 and a 200-day moving average price of $183.62. Waste Connections, Inc. has a 12-month low of $160.34 and a 12-month high of $201.66. 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 - Get Free Report) last posted its earnings results on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. Analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.
Waste Connections Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Thursday, February 27th. Waste Connections's dividend payout ratio (DPR) is presently 52.72%.
About Waste Connections
(
Free Report)
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.
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