Waste Connections, Inc. $WCN Stake Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its stake in Waste Connections, Inc. (NYSE:WCN) by 0.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,121,736 shares of the business services provider’s stock after selling 6,309 shares during the quarter. Waste Connections comprises 0.8% of King Luther Capital Management Corp’s holdings, making the stock its 28th biggest position. King Luther Capital Management Corp’s holdings in Waste Connections were worth $197,201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in WCN. Asset Dedication LLC purchased a new stake in shares of Waste Connections during the second quarter valued at $28,000. Greykasell Wealth Strategies Inc. lifted its stake in Waste Connections by 555.2% in the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 161 shares during the last quarter. AlphaCore Capital LLC acquired a new position in Waste Connections during the second quarter worth $39,000. Caldwell Trust Co acquired a new position in Waste Connections in the 2nd quarter valued at $49,000. Finally, TD Private Client Wealth LLC boosted its position in shares of Waste Connections by 479.3% in the third quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 278 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

Shares of NYSE WCN opened at $162.66 on Thursday. The stock has a fifty day moving average of $170.30 and a 200-day moving average of $173.99. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. Waste Connections, Inc. has a fifty-two week low of $155.65 and a fifty-two week high of $201.66. The stock has a market cap of $41.59 billion, a PE ratio of 39.01, a price-to-earnings-growth ratio of 2.77 and a beta of 0.62.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. Waste Connections’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $1.16 earnings per share. Equities research analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

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

Wall Street Analyst Weigh In

WCN has been the subject of a number of recent research reports. Barclays set a $176.00 target price on Waste Connections and gave the stock an “equal weight” rating in a report on Friday, February 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $210.00 price target (down from $219.00) on shares of Waste Connections in a report on Tuesday. Morgan Stanley set a $205.00 price target on Waste Connections and gave the company an “overweight” rating in a research note on Friday, February 13th. Citigroup reissued a “neutral” rating and issued a $183.00 price objective (down previously from $196.00) on shares of Waste Connections in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. lowered their target price on Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $203.75.

Waste Connections Profile

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.