TD Asset Management Inc Cuts Stock Position in Waste Connections, Inc. $WCN

TD Asset Management Inc decreased its holdings in Waste Connections, Inc. (NYSE:WCN) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,840,804 shares of the business services provider’s stock after selling 102,185 shares during the quarter. TD Asset Management Inc owned 1.50% of Waste Connections worth $675,347,000 at the end of the most recent reporting period.

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

Waste Connections Stock Performance

Shares of WCN opened at $165.66 on Wednesday. The stock has a 50 day moving average price of $169.54 and a 200 day moving average price of $173.24. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $42.35 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 2.80 and a beta of 0.62. Waste Connections, Inc. has a 52-week low of $155.65 and a 52-week high of $201.66.

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. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the company earned $1.16 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal 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 given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s payout ratio is 33.57%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WCN. JPMorgan Chase & Co. cut their price target on Waste Connections from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Sanford C. Bernstein restated an “outperform” rating and set a $205.00 target price (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. Barclays set a $176.00 target price on shares of Waste Connections and gave the company an “equal weight” rating in a report on Friday, February 13th. Wells Fargo & Company initiated coverage on shares of Waste Connections in a report on Thursday, November 13th. They set an “overweight” rating and a $186.00 price target for the company. Finally, Oppenheimer reissued an “outperform” rating and issued a $205.00 price objective (down from $206.00) on shares of Waste Connections in a research report on Friday, January 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, 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.