Hillsdale Investment Management Inc. Sells 67,358 Shares of Waste Connections, Inc. $WCN

Hillsdale Investment Management Inc. lessened its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 94.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,842 shares of the business services provider’s stock after selling 67,358 shares during the period. Hillsdale Investment Management Inc.’s holdings in Waste Connections were worth $675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WCN. CIBC Asset Management Inc increased its position in Waste Connections by 55.7% during the 3rd 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 period. Fisher Funds Management LTD boosted its stake in shares of Waste Connections by 51.2% during the 3rd quarter. Fisher Funds Management LTD now owns 88,336 shares of the business services provider’s stock valued at $15,529,000 after purchasing an additional 29,925 shares in the last quarter. National Pension Service increased its position in shares of Waste Connections by 2.3% during the third 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 period. Cidel Asset Management Inc. raised its stake in Waste Connections by 19.5% in the third quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider’s stock worth $28,780,000 after buying an additional 26,684 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Waste Connections by 770.4% in the third quarter. Thrivent Financial for Lutherans now owns 57,519 shares of the business services provider’s stock worth $10,112,000 after buying an additional 50,911 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Shares of WCN stock opened at $162.86 on Tuesday. Waste Connections, Inc. has a one year low of $155.65 and a one year high of $201.66. The company’s 50-day moving average is $169.75 and its 200 day moving average is $173.40. The company has a market capitalization of $41.64 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 2.81 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.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have weighed in on WCN shares. JPMorgan Chase & Co. cut their price objective on Waste Connections from $220.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Morgan Stanley set a $205.00 price target on Waste Connections and gave the company an “overweight” rating in a research report on Friday, February 13th. Barclays set a $176.00 price target on Waste Connections and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $210.00 price objective (down previously from $219.00) on shares of Waste Connections in a research report on Tuesday, February 17th. Finally, TD Cowen dropped their target price on shares of Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Waste Connections presently has a consensus rating of “Buy” and a consensus price target of $203.75.

Waste Connections Company 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.