Skandinaviska Enskilda Banken AB publ Sells 3,159 Shares of Waste Connections, Inc. $WCN

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 5.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,363 shares of the business services provider’s stock after selling 3,159 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Waste Connections were worth $9,557,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Lido Advisors LLC increased its holdings in shares of Waste Connections by 2.1% during the 2nd quarter. Lido Advisors LLC now owns 2,949 shares of the business services provider’s stock worth $551,000 after purchasing an additional 61 shares during the period. Legacy Wealth Asset Management LLC grew its position in Waste Connections by 0.8% during the third quarter. Legacy Wealth Asset Management LLC now owns 7,895 shares of the business services provider’s stock worth $1,388,000 after buying an additional 61 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Waste Connections by 1.6% during the second quarter. Valeo Financial Advisors LLC now owns 4,052 shares of the business services provider’s stock valued at $757,000 after acquiring an additional 63 shares during the period. Parr Mcknight Wealth Management Group LLC raised its holdings in Waste Connections by 1.1% in the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 6,853 shares of the business services provider’s stock valued at $1,280,000 after acquiring an additional 72 shares in the last quarter. Finally, Atria Investments Inc lifted its position in shares of Waste Connections by 1.0% in the 2nd quarter. Atria Investments Inc now owns 8,016 shares of the business services provider’s stock worth $1,497,000 after acquiring an additional 81 shares during the period. 86.09% of the stock is owned by institutional investors.

Waste Connections Trading Up 0.9%

Shares of WCN stock opened at $162.66 on Thursday. The company has a market capitalization of $41.59 billion, a P/E ratio of 39.01, a P/E/G ratio of 2.77 and a beta of 0.62. Waste Connections, Inc. has a 12-month low of $155.65 and a 12-month high of $201.66. 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 firm has a 50-day moving average price of $170.30 and a 200 day moving average price of $173.99.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 earnings per share 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 firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.35 per share. 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 (DPR) is currently 33.57%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Oppenheimer reissued an “outperform” rating and issued a $205.00 price target (down previously from $206.00) on shares of Waste Connections in a report on Friday, January 23rd. Morgan Stanley set a $205.00 price objective on shares of Waste Connections and gave the stock an “overweight” rating in a report on Friday, February 13th. Barclays set a $176.00 target price on shares of Waste Connections and gave the company an “equal weight” rating in a research note on Friday, February 13th. Finally, Canadian Imperial Bank of Commerce set a $208.00 price target on shares of Waste Connections in a research report on Thursday, January 8th. Four 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 company. Based on data from MarketBeat, the company 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.