Waste Connections, Inc. $WCN Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its position in shares of Waste Connections, Inc. (NYSE:WCN) by 2.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,840,804 shares of the business services provider’s stock after selling 102,185 shares during the quarter. TD Asset Management Inc’s holdings in Waste Connections were worth $675,347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in WCN. CIBC Asset Management Inc increased its holdings in shares of Waste Connections by 55.7% in the 3rd quarter. CIBC Asset Management Inc now owns 1,991,112 shares of the business services provider’s stock valued at $350,603,000 after acquiring an additional 711,990 shares during the period. Fisher Funds Management LTD boosted its stake in Waste Connections by 51.2% during the 3rd quarter. Fisher Funds Management LTD now owns 88,336 shares of the business services provider’s stock worth $15,529,000 after purchasing an additional 29,925 shares during the period. National Pension Service grew its position in Waste Connections by 2.3% during the 3rd quarter. National Pension Service now owns 385,446 shares of the business services provider’s stock worth $67,761,000 after purchasing an additional 8,725 shares during the last quarter. Cidel Asset Management Inc. increased its stake in Waste Connections by 19.5% in the third quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider’s stock valued at $28,780,000 after purchasing an additional 26,684 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Waste Connections by 770.4% in the third quarter. Thrivent Financial for Lutherans now owns 57,519 shares of the business services provider’s stock valued at $10,112,000 after buying an additional 50,911 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Up 1.6%

WCN opened at $165.66 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.62 and a quick ratio of 0.62. Waste Connections, Inc. has a 12 month low of $155.65 and a 12 month high of $201.66. The stock has a market capitalization of $42.35 billion, a P/E ratio of 39.73, a P/E/G ratio of 2.80 and a beta of 0.62. The business has a 50 day simple moving average of $169.54 and a 200-day simple moving average of $173.24.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. Waste Connections’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, February 25th. Waste Connections’s dividend payout ratio (DPR) is currently 33.57%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WCN. UBS Group set a $205.00 price target on Waste Connections in a report on Monday, January 5th. Scotiabank set a $197.00 target price on Waste Connections and gave the company a “sector outperform” rating in a research note on Friday, February 13th. Morgan Stanley set a $205.00 target price on Waste Connections and gave the company an “overweight” rating in a report on Friday, February 13th. Stifel Nicolaus set a $213.00 price target on Waste Connections and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, Canadian Imperial Bank of Commerce set a $208.00 price objective on shares of Waste Connections in a research report on Thursday, January 8th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target 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.