Waste Connections, Inc. $WCN Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 1.0% during the third quarter, Holdings Channel.com reports. The firm owned 3,474,700 shares of the business services provider’s stock after acquiring an additional 35,720 shares during the period. JPMorgan Chase & Co.’s holdings in Waste Connections were worth $610,853,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Waste Connections during the 1st quarter worth about $577,000. CWM LLC increased its stake in shares of Waste Connections by 18.7% during the second quarter. CWM LLC now owns 1,585 shares of the business services provider’s stock valued at $296,000 after acquiring an additional 250 shares during the period. Klingman & Associates LLC bought a new stake in Waste Connections during the second quarter worth approximately $211,000. R Squared Ltd boosted its stake in Waste Connections by 340.1% during the 2nd quarter. R Squared Ltd now owns 8,053 shares of the business services provider’s stock valued at $1,504,000 after purchasing an additional 6,223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Waste Connections by 1,515.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 517 shares of the business services provider’s stock valued at $97,000 after purchasing an additional 485 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Up 0.6%

Waste Connections stock opened at $161.18 on Wednesday. Waste Connections, Inc. has a 52 week low of $155.65 and a 52 week high of $201.66. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $41.21 billion, a price-to-earnings ratio of 38.65, a P/E/G ratio of 2.84 and a beta of 0.62. The company has a 50 day moving average price of $170.41 and a 200 day moving average price of $174.07.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.37 billion. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. Research analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Wednesday, February 25th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Waste Connections’s dividend payout ratio is currently 33.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WCN shares. Canadian Imperial Bank of Commerce set a $208.00 price target on shares of Waste Connections in a report on Thursday, January 8th. The Goldman Sachs Group began coverage on shares of Waste Connections in a report on Monday, November 24th. They set a “buy” rating and a $202.00 target price for the company. Scotiabank set a $197.00 price target on shares of Waste Connections and gave the stock a “sector outperform” rating in a research report on Friday. Oppenheimer reiterated an “outperform” rating and set a $205.00 price objective (down previously from $206.00) on shares of Waste Connections in a research report on Friday, January 23rd. Finally, BNP Paribas Exane started coverage on Waste Connections in a research note on Tuesday, January 6th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $203.75.

Waste Connections Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.