Kimelman & Baird LLC lessened its stake in shares of Waste Connections Inc (NYSE:WCN) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 217,664 shares of the business services provider’s stock after selling 4,368 shares during the quarter. Waste Connections makes up approximately 2.5% of Kimelman & Baird LLC’s portfolio, making the stock its 15th biggest position. Kimelman & Baird LLC owned 0.08% of Waste Connections worth $16,162,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Waste Connections by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 337,685 shares of the business services provider’s stock valued at $25,420,000 after purchasing an additional 2,539 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Waste Connections by 13.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 10,412 shares of the business services provider’s stock valued at $830,000 after purchasing an additional 1,212 shares during the period. Comerica Bank raised its stake in Waste Connections by 4.8% during the 3rd quarter. Comerica Bank now owns 16,171 shares of the business services provider’s stock valued at $1,207,000 after purchasing an additional 737 shares during the period. Commonwealth Equity Services LLC raised its stake in Waste Connections by 9.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 13,519 shares of the business services provider’s stock valued at $1,078,000 after purchasing an additional 1,127 shares during the period. Finally, SG Americas Securities LLC raised its stake in Waste Connections by 129.4% during the 3rd quarter. SG Americas Securities LLC now owns 30,647 shares of the business services provider’s stock valued at $2,445,000 after purchasing an additional 17,287 shares during the period. 84.90% of the stock is owned by hedge funds and other institutional investors.
WCN has been the topic of several recent analyst reports. TD Securities set a $87.00 target price on Waste Connections and gave the company a “hold” rating in a research note on Wednesday, November 28th. Goldman Sachs Group raised Waste Connections to a “buy” rating and set a $94.00 price objective on the stock in a research note on Tuesday, December 4th. Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Sunday, January 6th. KeyCorp started coverage on Waste Connections in a research note on Monday, February 4th. They issued an “overweight” rating and a $94.00 price objective on the stock. Finally, ValuEngine raised Waste Connections from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $88.80.
Shares of Waste Connections stock traded up $0.94 on Monday, reaching $86.28. The company had a trading volume of 232,705 shares, compared to its average volume of 588,218. The stock has a market cap of $22.47 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 2.91 and a beta of 0.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.27 and a current ratio of 1.27. Waste Connections Inc has a 1 year low of $70.28 and a 1 year high of $85.92.
Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, February 13th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Waste Connections had a return on equity of 10.46% and a net margin of 11.11%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business earned $0.52 EPS. Waste Connections’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts predict that Waste Connections Inc will post 2.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, February 28th. Waste Connections’s dividend payout ratio is 25.40%.
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Waste Connections Profile
Waste Connections, Inc 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, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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