Hillsdale Investment Management Inc. Sells 67,358 Shares of Waste Connections, Inc. $WCN

Hillsdale Investment Management Inc. decreased its holdings in Waste Connections, Inc. (NYSE:WCN) by 94.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,842 shares of the business services provider’s stock after selling 67,358 shares during the period. Hillsdale Investment Management Inc.’s holdings in Waste Connections were worth $675,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in WCN. Vanguard Group Inc. grew its stake in shares of Waste Connections by 2.3% in the third quarter. Vanguard Group Inc. now owns 31,585,284 shares of the business services provider’s stock worth $5,552,682,000 after acquiring an additional 717,440 shares during the period. Mackenzie Financial Corp boosted its holdings in Waste Connections by 14.0% in the second quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider’s stock worth $975,190,000 after purchasing an additional 642,426 shares during the last quarter. Norges Bank bought a new stake in Waste Connections in the 2nd quarter worth approximately $755,938,000. 1832 Asset Management L.P. raised its stake in Waste Connections by 3.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 3,995,575 shares of the business services provider’s stock valued at $746,054,000 after buying an additional 132,455 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Waste Connections by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,474,700 shares of the business services provider’s stock valued at $610,853,000 after buying an additional 35,720 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Down 0.5%

WCN stock opened at $162.86 on Tuesday. The business’s 50-day moving average price is $169.75 and its 200-day moving average price is $173.40. The stock has a market cap of $41.64 billion, a P/E ratio of 39.06, a PEG ratio of 2.81 and a beta of 0.62. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.07. Waste Connections, Inc. has a twelve month low of $155.65 and a twelve month high of $201.66.

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, topping the consensus estimate of $1.28 by $0.01. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Wednesday, February 25th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, February 25th. Waste Connections’s dividend payout ratio (DPR) is presently 33.57%.

Analyst Upgrades and Downgrades

WCN has been the topic of a number of research reports. Barclays set a $176.00 price target on Waste Connections and gave the stock an “equal weight” rating in a research note on Friday, February 13th. TD Cowen lowered their target price on Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Wells Fargo & Company assumed coverage on Waste Connections in a research note on Thursday, November 13th. They set an “overweight” rating and a $186.00 price target for the company. BNP Paribas Exane started coverage on shares of Waste Connections in a research report on Tuesday, January 6th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $203.75.

About Waste Connections

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.