JPMorgan Chase & Co. Reduces Position in Waste Connections, Inc. (NYSE:WCN)

JPMorgan Chase & Co. lowered its position in Waste Connections, Inc. (NYSE:WCN) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,249,936 shares of the business services provider’s stock after selling 57,145 shares during the period. JPMorgan Chase & Co. owned approximately 1.26% of Waste Connections worth $557,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Elo Mutual Pension Insurance Co boosted its stake in shares of Waste Connections by 10.2% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 25,098 shares of the business services provider’s stock valued at $4,306,000 after purchasing an additional 2,322 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Waste Connections by 8.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 193,195 shares of the business services provider’s stock valued at $33,023,000 after buying an additional 14,315 shares in the last quarter. Mufg Securities Canada LTD. boosted its position in Waste Connections by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 394,071 shares of the business services provider’s stock valued at $67,560,000 after buying an additional 165,072 shares during the period. Morey & Quinn Wealth Partners LLC bought a new position in Waste Connections in the 4th quarter worth about $1,165,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Waste Connections by 5.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 239,630 shares of the business services provider’s stock worth $41,116,000 after acquiring an additional 13,445 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citigroup increased their price objective on Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Morgan Stanley lifted their price objective on Waste Connections from $214.00 to $219.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Stifel Nicolaus increased their target price on shares of Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. CIBC reduced their price target on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Scotiabank dropped their price objective on shares of Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Waste Connections currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.43.

Waste Connections Trading Down 0.6 %

Shares of NYSE:WCN opened at $192.80 on Friday. The business’s 50-day moving average is $187.14 and its 200 day moving average is $182.91. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. Waste Connections, Inc. has a 1 year low of $160.34 and a 1 year high of $194.83. The firm has a market capitalization of $49.81 billion, a P/E ratio of 80.67, a P/E/G ratio of 3.07 and a beta of 0.81.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. On average, research analysts predict 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 was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a $0.315 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.65%. Waste Connections’s dividend payout ratio is currently 52.72%.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.