Zurcher Kantonalbank Zurich Cantonalbank Sells 20,724 Shares of Waste Connections, Inc. $WCN

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 12.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 151,227 shares of the business services provider’s stock after selling 20,724 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Waste Connections worth $26,557,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. City Holding Co. purchased a new stake in shares of Waste Connections during the 4th quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections during the 3rd quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Waste Connections during the 3rd quarter valued at approximately $30,000. Greykasell Wealth Strategies Inc. lifted its stake in shares of Waste Connections by 555.2% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after buying an additional 161 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its stake in shares of Waste Connections by 121.9% during the 4th quarter. Valley National Advisers Inc. now owns 304 shares of the business services provider’s stock valued at $52,000 after buying an additional 167 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WCN. BNP Paribas Exane began coverage on shares of Waste Connections in a research note on Tuesday, January 6th. They set an “outperform” rating on the stock. Barclays set a $176.00 price target on shares of Waste Connections and gave the company an “equal weight” rating in a research note on Friday, February 13th. Sanford C. Bernstein restated an “outperform” rating and set a $205.00 price target (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. Scotiabank set a $197.00 target price on shares of Waste Connections and gave the stock a “sector outperform” rating in a research note on Friday, February 13th. Finally, Wolfe Research began coverage on shares of Waste Connections in a research note on Friday, March 13th. They issued an “outperform” rating and a $199.00 target price on the stock. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $202.81.

Waste Connections Stock Performance

NYSE WCN opened at $157.94 on Wednesday. Waste Connections, Inc. has a 1 year low of $154.90 and a 1 year high of $199.78. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $40.31 billion, a PE ratio of 37.87, a P/E/G ratio of 2.83 and a beta of 0.61. The company’s 50 day simple moving average is $164.12 and its two-hundred day simple moving average is $168.98.

Waste Connections (NYSE:WCN) last posted 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 business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the company posted $1.16 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts predict that Waste Connections, Inc. will post 5.48 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Wednesday, February 25th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Waste Connections’s dividend payout ratio is presently 33.57%.

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.