Waste Connections, Inc. $WCN Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 1.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,474,700 shares of the business services provider’s stock after acquiring an additional 35,720 shares during the period. JPMorgan Chase & Co. owned approximately 1.36% of Waste Connections worth $610,853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lido Advisors LLC lifted its position in shares of Waste Connections by 2.1% during the second quarter. Lido Advisors LLC now owns 2,949 shares of the business services provider’s stock worth $551,000 after purchasing an additional 61 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of Waste Connections by 0.8% during the third quarter. Legacy Wealth Asset Management LLC now owns 7,895 shares of the business services provider’s stock valued at $1,388,000 after acquiring an additional 61 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Waste Connections by 1.6% during the second quarter. Valeo Financial Advisors LLC now owns 4,052 shares of the business services provider’s stock worth $757,000 after acquiring an additional 63 shares during the last quarter. Parr Mcknight Wealth Management Group LLC raised its stake in shares of Waste Connections by 1.1% in the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 6,853 shares of the business services provider’s stock valued at $1,280,000 after purchasing an additional 72 shares in the last quarter. Finally, Atria Investments Inc lifted its position in shares of Waste Connections by 1.0% during the second quarter. Atria Investments Inc now owns 8,016 shares of the business services provider’s stock worth $1,497,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

WCN stock opened at $161.18 on Wednesday. Waste Connections, Inc. has a 1 year low of $155.65 and a 1 year high of $201.66. The stock has a market capitalization of $41.21 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 2.84 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. The stock’s fifty day moving average is $170.41 and its two-hundred day moving average is $174.07.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS. On average, research analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $205.00 price objective (up from $200.00) on shares of Waste Connections in a report on Monday, January 5th. Wells Fargo & Company started coverage on Waste Connections in a research report on Thursday, November 13th. They issued an “overweight” rating and a $186.00 target price for the company. JPMorgan Chase & Co. lowered their price target on Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Citigroup reissued a “neutral” rating and set a $183.00 price target (down from $196.00) on shares of Waste Connections in a research report on Friday, January 16th. Finally, Canadian Imperial Bank of Commerce set a $208.00 price objective on shares of Waste Connections in a report on Thursday, January 8th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Waste Connections currently has an average rating of “Buy” and a consensus target price of $203.75.

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.