Swedbank AB Grows Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Swedbank AB boosted its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 40.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,806 shares of the business services provider's stock after purchasing an additional 11,774 shares during the quarter. Swedbank AB's holdings in Waste Connections were worth $7,297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Trust Asset Management LLC bought a new stake in Waste Connections in the third quarter worth $36,000. Asset Dedication LLC bought a new position in Waste Connections in the 3rd quarter worth about $41,000. Pathway Financial Advisers LLC bought a new stake in Waste Connections during the 1st quarter valued at about $43,000. Signature Resources Capital Management LLC purchased a new position in Waste Connections in the second quarter worth about $45,000. Finally, Kennebec Savings Bank bought a new position in shares of Waste Connections in the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Trading Up 0.2 %

Shares of WCN stock opened at $193.25 on Wednesday. The stock has a fifty day simple moving average of $181.46 and a two-hundred day simple moving average of $178.11. The firm has a market capitalization of $49.87 billion, a PE ratio of 53.09, a PEG ratio of 3.22 and a beta of 0.72. Waste Connections, Inc. has a 52-week low of $132.15 and a 52-week high of $194.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) 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 business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the firm posted $1.17 EPS. The company's revenue was up 13.3% on a year-over-year basis. On average, analysts predict that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a $0.315 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.26 annualized dividend and a yield of 0.65%. This is a boost from Waste Connections's previous quarterly dividend of $0.29. Waste Connections's payout ratio is presently 34.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WCN shares. Raymond James decreased 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 report on Friday, October 25th. Scotiabank started coverage on Waste Connections in a report on Friday, October 4th. They set a "sector perform" rating and a $196.00 price target on the stock. Eight Capital upgraded Waste Connections to a "hold" rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their target price on shares of Waste Connections from $199.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Finally, Citigroup boosted their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.