Waste Connections, Inc. (NYSE:WCN) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 272,674 shares of the business services provider’s stock after selling 4,469 shares during the period. CIBC Private Wealth Group LLC owned 0.11% of Waste Connections worth $47,982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Waste Connections during the 4th quarter worth about $687,935,000. Principal Financial Group Inc. lifted its stake in shares of Waste Connections by 307.1% during the third quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock valued at $344,615,000 after buying an additional 1,453,733 shares during the period. Raymond James Financial Inc. acquired a new stake in Waste Connections during the fourth quarter worth approximately $240,422,000. National Bank of Canada FI boosted its position in Waste Connections by 35.3% during the third quarter. National Bank of Canada FI now owns 2,678,562 shares of the business services provider’s stock worth $478,777,000 after acquiring an additional 699,012 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in Waste Connections by 199.4% in the 3rd quarter. Two Sigma Advisers LP now owns 591,250 shares of the business services provider’s stock worth $105,727,000 after acquiring an additional 393,763 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Shares of WCN stock opened at $192.80 on Monday. The company’s fifty day simple moving average is $187.14 and its 200-day simple moving average is $182.89. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $194.83. The company has a market cap of $49.81 billion, a PE ratio of 80.67, a P/E/G ratio of 3.07 and a beta of 0.81.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. As a group, equities research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 0.65%. The ex-dividend date was Thursday, February 27th. Waste Connections’s dividend payout ratio (DPR) is 52.72%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WCN. StockNews.com lowered Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Scotiabank reduced their target price on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a research report on Monday, January 27th. Morgan Stanley lifted their price target on Waste Connections from $214.00 to $219.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Oppenheimer increased their price objective on shares of Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, CIBC lowered their target price 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. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and a consensus target price of $202.43.

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.