JPMorgan Chase & Co. lowered its stake in shares of Waste Connections Inc (NYSE:WCN) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,382,138 shares of the business services provider’s stock after selling 1,034,526 shares during the period. JPMorgan Chase & Co.’s holdings in Waste Connections were worth $742,572,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of WCN. Lindbrook Capital LLC purchased a new stake in shares of Waste Connections during the 4th quarter worth approximately $30,000. Resources Investment Advisors Inc. purchased a new stake in shares of Waste Connections during the 4th quarter worth approximately $32,000. Essex Savings Bank purchased a new stake in shares of Waste Connections during the 4th quarter worth approximately $33,000. Rehmann Capital Advisory Group increased its stake in shares of Waste Connections by 3,300.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 442 shares of the business services provider’s stock worth $33,000 after purchasing an additional 429 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Waste Connections by 49.0% during the 4th quarter. Proficio Capital Partners LLC now owns 465 shares of the business services provider’s stock worth $35,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 84.41% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Waste Connections from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. AltaCorp Capital lowered shares of Waste Connections from an “outperform” rating to a “sector perform” rating in a research note on Thursday, April 25th. Stifel Nicolaus lowered shares of Waste Connections from a “buy” rating to a “hold” rating and set a $88.00 price target for the company. in a research note on Thursday, April 11th. Raymond James raised their price target on shares of Waste Connections from $102.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 26th. Finally, UBS Group lifted their price objective on shares of Waste Connections from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $95.40.
Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Waste Connections had a net margin of 10.89% and a return on equity of 10.58%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business earned $0.56 EPS. Waste Connections’s revenue was up 9.2% compared to the same quarter last year. Sell-side analysts forecast that Waste Connections Inc will post 2.8 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.68%. Waste Connections’s dividend payout ratio (DPR) is currently 25.40%.
Waste Connections Company Profile
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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