Waste Connections, Inc. (NYSE:WCN) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 982.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,401 shares of the business services provider's stock after purchasing an additional 99,295 shares during the period. Thrivent Financial for Lutherans' holdings in Waste Connections were worth $19,563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UniSuper Management Pty Ltd raised its position in Waste Connections by 94.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,700 shares of the business services provider's stock worth $636,000 after purchasing an additional 1,800 shares during the period. Natixis bought a new position in shares of Waste Connections during the first quarter valued at approximately $360,000. CreativeOne Wealth LLC purchased a new stake in shares of Waste Connections in the first quarter worth approximately $266,000. Canada Pension Plan Investment Board lifted its stake in shares of Waste Connections by 35.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 488,686 shares of the business services provider's stock worth $84,094,000 after acquiring an additional 127,522 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in Waste Connections by 12.7% during the 1st quarter. Quadrature Capital Ltd now owns 240,000 shares of the business services provider's stock valued at $41,138,000 after acquiring an additional 27,100 shares during the period. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Trading Down 0.5 %

WCN opened at $186.52 on Thursday. Waste Connections, Inc. has a 12 month low of $130.33 and a 12 month high of $188.53. The stock has a fifty day moving average price of $180.93 and a 200-day moving average price of $177.32. The firm has a market cap of $48.13 billion, a price-to-earnings ratio of 51.24, a PEG ratio of 3.06 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.

Waste Connections (NYSE:WCN - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping 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 the consensus estimate of $2.30 billion. During the same period in the previous year, the company posted $1.17 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a $0.315 dividend. This is a boost from Waste Connections's previous quarterly dividend of $0.29. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.68%. Waste Connections's dividend payout ratio (DPR) is presently 34.62%.

Wall Street Analyst Weigh In

WCN has been the topic of a number of recent analyst reports. Raymond James reduced their target price on Waste Connections from $208.00 to $205.00 and set a "strong-buy" rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Waste Connections from $198.00 to $197.00 and set an "overweight" rating for the company in a report on Friday, October 25th. BMO Capital Markets lowered their price objective on shares of Waste Connections from $198.00 to $196.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. TD Cowen raised 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, Scotiabank initiated coverage on Waste Connections in a report on Friday, October 4th. They issued a "sector perform" rating and a $196.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus 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.