Swiss National Bank Has $130.94 Million Stock Holdings in Waste Connections, Inc. $WCN

Swiss National Bank lessened its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 744,845 shares of the business services provider’s stock after selling 37,300 shares during the quarter. Swiss National Bank owned about 0.29% of Waste Connections worth $130,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in shares of Waste Connections by 55.7% in the third quarter. CIBC Asset Management Inc now owns 1,991,112 shares of the business services provider’s stock valued at $350,603,000 after purchasing an additional 711,990 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in Waste Connections by 19.5% during the third quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider’s stock worth $28,780,000 after purchasing an additional 26,684 shares during the last quarter. Fisher Funds Management LTD grew its position in Waste Connections by 51.2% in the 3rd quarter. Fisher Funds Management LTD now owns 88,336 shares of the business services provider’s stock worth $15,529,000 after purchasing an additional 29,925 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Waste Connections by 770.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 57,519 shares of the business services provider’s stock worth $10,112,000 after purchasing an additional 50,911 shares in the last quarter. Finally, National Pension Service increased its stake in Waste Connections by 2.3% in the 3rd quarter. National Pension Service now owns 385,446 shares of the business services provider’s stock valued at $67,761,000 after buying an additional 8,725 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

Waste Connections Trading Down 3.5%

NYSE:WCN opened at $165.67 on Wednesday. Waste Connections, Inc. has a 1 year low of $155.65 and a 1 year high of $201.66. The stock’s fifty day moving average price is $168.14 and its two-hundred day moving average price is $172.11. 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 company has a market cap of $42.36 billion, a P/E ratio of 39.73, a P/E/G ratio of 2.95 and a beta of 0.62.

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

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Wednesday, February 25th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio is currently 33.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Cowen reduced their target price on Waste Connections from $210.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 13th. Oppenheimer reissued an “outperform” rating and issued a $205.00 price target (down from $206.00) on shares of Waste Connections in a report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on shares of Waste Connections in a report on Friday, February 13th. Wells Fargo & Company started coverage on shares of Waste Connections in a research note on Thursday, November 13th. They issued an “overweight” rating and a $186.00 target price on the stock. Finally, Citigroup restated a “neutral” rating and set a $183.00 price target (down from $196.00) on shares of Waste Connections in a research note on Friday, January 16th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Waste Connections 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.