Waste Connections, Inc. (NYSE:WCN) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 14.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 959,825 shares of the business services provider's stock after selling 163,208 shares during the quarter. CIBC Asset Management Inc owned approximately 0.37% of Waste Connections worth $172,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC bought a new position in shares of Waste Connections in the third quarter worth about $36,000. Asset Dedication LLC purchased a new stake in Waste Connections in the 3rd quarter worth approximately $41,000. Pathway Financial Advisers LLC purchased a new position in Waste Connections during the first quarter valued at approximately $43,000. Signature Resources Capital Management LLC purchased a new position in Waste Connections during the second quarter valued at approximately $45,000. Finally, Kennebec Savings Bank bought a new position in shares of Waste Connections in the third quarter worth approximately $47,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Down 0.0 %

Shares of WCN stock traded down $0.03 on Friday, reaching $183.70. 652,049 shares of the stock were exchanged, compared to its average volume of 883,337. The company has a market capitalization of $47.41 billion, a price-to-earnings ratio of 50.40, a PEG ratio of 3.13 and a beta of 0.72. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The business's 50 day moving average price is $180.81 and its 200 day moving average price is $176.60. Waste Connections, Inc. has a twelve month low of $130.33 and a twelve month high of $188.30.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the firm posted $1.17 EPS. Waste Connections's quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.69%. This is a positive change from Waste Connections's previous quarterly dividend of $0.29. Waste Connections's dividend payout ratio (DPR) is 34.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WCN shares. Stifel Nicolaus reiterated a "buy" rating and issued a $205.00 price target (up previously from $200.00) on shares of Waste Connections in a research note on Friday, October 25th. Scotiabank began coverage on Waste Connections in a research note on Friday, October 4th. They issued a "sector perform" rating and a $196.00 price target for the company. BMO Capital Markets reduced their price objective on shares of Waste Connections from $198.00 to $196.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. TD Cowen upped their target price on shares of Waste Connections from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Finally, Raymond James cut their target price on shares of Waste Connections from $208.00 to $205.00 and set a "strong-buy" rating for the company in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $195.56.

Waste Connections 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.