Eagle Asset Management Inc. lessened its stake in shares of Waste Connections (NYSE:WCN) by 4.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,973,116 shares of the business services provider’s stock after selling 132,817 shares during the period. Waste Connections accounts for 1.2% of Eagle Asset Management Inc.’s holdings, making the stock its 4th largest position. Eagle Asset Management Inc.’s holdings in Waste Connections were worth $213,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Twin Tree Management LP lifted its position in shares of Waste Connections by 1,899,400.0% during the 1st quarter. Twin Tree Management LP now owns 18,995 shares of the business services provider’s stock worth $1,363,000 after buying an additional 18,994 shares during the period. Forsta AP Fonden bought a new position in shares of Waste Connections during the 1st quarter worth approximately $2,588,000. Korea Investment CORP lifted its position in shares of Waste Connections by 89.6% during the 1st quarter. Korea Investment CORP now owns 96,988 shares of the business services provider’s stock worth $6,958,000 after buying an additional 45,847 shares during the period. Usca Ria LLC lifted its position in shares of Waste Connections by 13.6% during the 1st quarter. Usca Ria LLC now owns 10,524 shares of the business services provider’s stock worth $755,000 after buying an additional 1,258 shares during the period. Finally, Timber Hill LLC lifted its position in shares of Waste Connections by 119.4% during the 1st quarter. Timber Hill LLC now owns 6,375 shares of the business services provider’s stock worth $457,000 after buying an additional 3,470 shares during the period. Institutional investors and hedge funds own 84.16% of the company’s stock.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Thursday, May 10th. Royal Bank of Canada raised their price target on Waste Connections from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, May 4th. BMO Capital Markets set a $82.00 price target on Waste Connections and gave the company a “buy” rating in a report on Friday, May 4th. UBS began coverage on Waste Connections in a report on Thursday, March 15th. They set a “buy” rating and a $91.00 price target for the company. Finally, Credit Suisse Group set a $80.00 price target on Waste Connections and gave the company a “buy” rating in a report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $80.33.

In other news, VP David Eddie sold 6,071 shares of Waste Connections stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $71.06, for a total value of $431,405.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald J. Mittelstaedt sold 45,000 shares of Waste Connections stock in a transaction on Friday, March 9th. The shares were sold at an average price of $73.32, for a total value of $3,299,400.00. Following the completion of the sale, the chief executive officer now directly owns 100,462 shares of the company’s stock, valued at $7,365,873.84. The disclosure for this sale can be found here. Insiders sold a total of 67,571 shares of company stock valued at $4,911,600 over the last three months. Insiders own 0.40% of the company’s stock.

WCN stock opened at $74.94 on Friday. Waste Connections has a fifty-two week low of $74.86 and a fifty-two week high of $75.37. The firm has a market cap of $19.74 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 2.25 and a beta of 0.18. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.62.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, May 2nd. The business services provider reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Waste Connections had a return on equity of 9.68% and a net margin of 14.68%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.74 EPS. equities research analysts expect that Waste Connections will post 2.52 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 30th. Stockholders of record on Wednesday, May 16th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $0.56 annualized dividend and a dividend yield of 0.75%. Waste Connections’s dividend payout ratio (DPR) is currently 25.93%.

Waste Connections Profile

Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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