Robeco Institutional Asset Management B.V. grew its holdings in Waste Connections, Inc. (NYSE:WCN – Get Rating) by 234.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,428 shares of the business services provider’s stock after purchasing an additional 138,450 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Waste Connections were worth $26,903,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of Waste Connections by 2.1% during the 3rd quarter. Royal Bank of Canada now owns 9,991,614 shares of the business services provider’s stock valued at $1,258,245,000 after buying an additional 205,348 shares during the period. BlackRock Inc. raised its position in shares of Waste Connections by 5.8% during the 3rd quarter. BlackRock Inc. now owns 7,380,649 shares of the business services provider’s stock valued at $929,446,000 after buying an additional 405,915 shares during the period. Invesco Ltd. raised its position in shares of Waste Connections by 86.8% during the 3rd quarter. Invesco Ltd. now owns 2,698,297 shares of the business services provider’s stock valued at $339,797,000 after buying an additional 1,253,935 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Waste Connections by 39.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,401,232 shares of the business services provider’s stock valued at $302,283,000 after buying an additional 684,880 shares during the period. Finally, Voya Investment Management LLC increased its holdings in Waste Connections by 22.2% in the 3rd quarter. Voya Investment Management LLC now owns 2,013,126 shares of the business services provider’s stock valued at $253,513,000 after purchasing an additional 365,062 shares during the last quarter. 81.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:WCN traded up $0.62 during trading on Wednesday, hitting $141.20. The company’s stock had a trading volume of 69,695 shares, compared to its average volume of 1,143,240. The business has a 50 day moving average price of $129.24 and a two-hundred day moving average price of $130.67. The company has a market capitalization of $36.31 billion, a PE ratio of 59.32, a P/E/G ratio of 3.00 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.84 and a current ratio of 0.84. Waste Connections, Inc. has a fifty-two week low of $109.82 and a fifty-two week high of $142.76.
Waste Connections (NYSE:WCN – Get Rating) last posted its quarterly earnings results on Tuesday, February 15th. The business services provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.59 billion. Waste Connections had a net margin of 10.05% and a return on equity of 12.23%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, equities analysts expect that Waste Connections, Inc. will post 3.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 16th. Investors of record on Wednesday, March 2nd were paid a dividend of $0.181 per share. The ex-dividend date was Tuesday, March 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.51%. Waste Connections’s payout ratio is currently 38.82%.
WCN has been the subject of several research reports. Royal Bank of Canada lifted their target price on shares of Waste Connections from $147.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, February 18th. Raymond James dropped their target price on shares of Waste Connections from $152.00 to $145.00 and set a “strong-buy” rating for the company in a report on Friday, February 18th. StockNews.com initiated coverage on shares of Waste Connections in a report on Thursday, March 31st. They issued a “buy” rating for the company. BMO Capital Markets dropped their target price on shares of Waste Connections from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Friday, February 18th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Waste Connections in a report on Tuesday, March 1st. They issued an “overweight” rating for the company. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Waste Connections currently has a consensus rating of “Buy” and an average target price of $139.13.
Waste Connections Profile (Get Rating)
Waste Connections, Inc engages in the provision of non-hazardous waste collection, transfer, and disposal services. It offers its services to residential, commercial, landfill and transfer stations, and industries such as office, apartments multi-family, construction and demolition, property management, retail, restaurant, and manufacturing.
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