Central Pacific Bank Trust Division grew its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 450.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,762 shares of the business services provider's stock after purchasing an additional 3,897 shares during the quarter. Central Pacific Bank Trust Division's holdings in Waste Connections were worth $817,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the company. Global Trust Asset Management LLC acquired a new stake in Waste Connections in the 3rd quarter worth about $36,000. FSA Wealth Management LLC bought a new position in shares of Waste Connections during the third quarter worth approximately $40,000. Asset Dedication LLC acquired a new stake in shares of Waste Connections in the third quarter valued at approximately $41,000. Continuum Advisory LLC boosted its stake in shares of Waste Connections by 58.0% in the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider's stock valued at $42,000 after buying an additional 83 shares during the period. Finally, Kennebec Savings Bank acquired a new stake in Waste Connections during the third quarter worth approximately $47,000. Institutional investors own 86.09% of the company's stock.
Waste Connections Trading Up 0.6 %
Shares of WCN stock traded up $1.04 during mid-day trading on Friday, reaching $170.93. 912,283 shares of the stock traded hands, compared to its average volume of 1,058,592. The company has a market cap of $44.11 billion, a price-to-earnings ratio of 46.96, a price-to-earnings-growth ratio of 3.00 and a beta of 0.74. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock's fifty day simple moving average is $181.79 and its two-hundred day simple moving average is $180.71. Waste Connections, Inc. has a 1-year low of $145.35 and a 1-year high of $194.83.
Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.05. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 earnings per share. On average, research analysts anticipate that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.
Waste Connections Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.315 dividend. This is a positive change from Waste Connections's previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Thursday, November 7th. Waste Connections's payout ratio is currently 34.62%.
Analyst Upgrades and Downgrades
WCN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on Waste Connections from $198.00 to $197.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Raymond James cut their price objective on shares of Waste Connections from $208.00 to $205.00 and set a "strong-buy" rating for the company in a research report on Friday, October 25th. Stifel Nicolaus raised their target price on shares of Waste Connections from $205.00 to $212.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Morgan Stanley boosted their target price on shares of Waste Connections from $206.00 to $214.00 and gave the company an "overweight" rating in a research report on Thursday, December 12th. Finally, Oppenheimer increased their price target on shares of Waste Connections from $192.00 to $195.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Waste Connections currently has a consensus rating of "Moderate Buy" and an average target price of $199.69.
Read Our Latest Stock Analysis on WCN
Waste Connections Profile
(
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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