JPMorgan Chase & Co. Reduces Stake in Waste Connections, Inc. (NYSE:WCN)

JPMorgan Chase & Co. trimmed its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,307,081 shares of the business services provider's stock after selling 62,207 shares during the period. JPMorgan Chase & Co. owned approximately 1.28% of Waste Connections worth $591,372,000 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 acquired a new position in Waste Connections during the third quarter worth $36,000. FSA Wealth Management LLC bought a new stake in shares of Waste Connections during the third quarter worth about $40,000. Asset Dedication LLC acquired a new stake in shares of Waste Connections in the 3rd quarter worth about $41,000. Continuum Advisory LLC lifted its position in Waste Connections by 58.0% in the 3rd quarter. Continuum Advisory LLC now owns 226 shares of the business services provider's stock valued at $42,000 after acquiring an additional 83 shares in the last quarter. Finally, Kennebec Savings Bank bought a new position in Waste Connections in the 3rd quarter valued at about $47,000. 86.09% of the stock is owned by institutional investors.

Waste Connections Stock Performance

NYSE WCN traded down $0.55 on Friday, hitting $171.27. 445,591 shares of the stock traded hands, compared to its average volume of 904,650. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. The business's fifty day moving average is $182.64 and its two-hundred day moving average is $180.81. Waste Connections, Inc. has a 12 month low of $145.35 and a 12 month high of $194.83. The firm has a market capitalization of $44.20 billion, a price-to-earnings ratio of 47.05, a PEG ratio of 3.08 and a beta of 0.74.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the company earned $1.17 EPS. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.315 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from Waste Connections's previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 0.74%. Waste Connections's dividend payout ratio (DPR) is 34.62%.

Analysts Set New Price Targets

WCN has been the subject of a number of recent research reports. BMO Capital Markets decreased their price objective on Waste Connections from $198.00 to $196.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Oppenheimer upped their price target on Waste Connections from $192.00 to $195.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Scotiabank initiated coverage on Waste Connections in a research note on Friday, October 4th. They set a "sector perform" rating and a $196.00 price objective on the stock. Eight Capital raised shares of Waste Connections to a "hold" rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada increased their target price on shares of Waste Connections from $199.00 to $201.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Waste Connections currently has a consensus rating of "Moderate Buy" and an average target price of $199.69.

Waste Connections Company 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.