Van ECK Associates Corp Buys 2,479 Shares of Waste Connections, Inc. (NYSE:WCN)

Van ECK Associates Corp increased its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,873 shares of the business services provider's stock after purchasing an additional 2,479 shares during the quarter. Van ECK Associates Corp's holdings in Waste Connections were worth $8,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Versor Investments LP lifted its holdings in Waste Connections by 75.1% in the third quarter. Versor Investments LP now owns 8,221 shares of the business services provider's stock valued at $1,470,000 after acquiring an additional 3,527 shares during the period. Blueshift Asset Management LLC bought a new position in Waste Connections in the third quarter valued at about $552,000. Dynamic Technology Lab Private Ltd bought a new position in Waste Connections in the third quarter valued at about $2,503,000. Barclays PLC lifted its holdings in Waste Connections by 34.3% in the third quarter. Barclays PLC now owns 303,040 shares of the business services provider's stock valued at $54,190,000 after acquiring an additional 77,466 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in Waste Connections by 65.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 3,034 shares of the business services provider's stock valued at $543,000 after acquiring an additional 1,202 shares during the period. 86.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WCN has been the subject of a number of analyst reports. StockNews.com cut Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. CIBC reduced their price target on Waste Connections from $215.00 to $212.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. Oppenheimer upped their price target on Waste Connections from $192.00 to $195.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. 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. Finally, BMO Capital Markets cut their target price on Waste Connections from $198.00 to $196.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $201.00.

Waste Connections Price Performance

NYSE WCN traded down $0.11 during trading on Thursday, hitting $187.71. 870,925 shares of the stock traded hands, compared to its average volume of 985,673. The company has a market capitalization of $48.44 billion, a P/E ratio of 78.54, a price-to-earnings-growth ratio of 3.07 and a beta of 0.77. The firm has a 50-day simple moving average of $179.51 and a 200-day simple moving average of $181.87. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. Waste Connections, Inc. has a 12-month low of $160.34 and a 12-month high of $194.83.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. As a group, analysts predict that Waste Connections, Inc. will post 5.29 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, February 27th. Waste Connections's payout ratio is 52.72%.

About Waste Connections

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.