Connor Clark & Lunn Investment Management Ltd. Sells 756,208 Shares of Waste Connections, Inc. $WCN

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Waste Connections, Inc. (NYSE:WCN) by 37.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,273,481 shares of the business services provider’s stock after selling 756,208 shares during the quarter. Waste Connections comprises 0.7% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 26th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Waste Connections were worth $223,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Waste Connections by 2.3% in the third quarter. Vanguard Group Inc. now owns 31,585,284 shares of the business services provider’s stock valued at $5,552,682,000 after acquiring an additional 717,440 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Waste Connections by 17.6% during the third quarter. Mackenzie Financial Corp now owns 6,136,218 shares of the business services provider’s stock worth $1,078,536,000 after purchasing an additional 918,245 shares in the last quarter. Norges Bank acquired a new position in shares of Waste Connections during the second quarter worth $755,938,000. 1832 Asset Management L.P. lifted its holdings in shares of Waste Connections by 3.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 3,995,575 shares of the business services provider’s stock valued at $746,054,000 after purchasing an additional 132,455 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Waste Connections by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,474,700 shares of the business services provider’s stock valued at $610,853,000 after purchasing an additional 35,720 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Up 0.7%

Shares of WCN stock opened at $166.63 on Thursday. Waste Connections, Inc. has a twelve month low of $155.65 and a twelve month high of $201.66. The stock has a market cap of $42.60 billion, a P/E ratio of 39.96, a P/E/G ratio of 2.84 and a beta of 0.62. The stock has a 50 day moving average of $167.96 and a 200 day moving average of $172.08. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.07.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.37 billion. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 EPS. As a group, sell-side analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The company 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. 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 dividend payout ratio is 33.57%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TD Cowen dropped their target price on Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. JPMorgan Chase & Co. decreased their price target 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. Canadian Imperial Bank of Commerce set a $208.00 price target on Waste Connections in a report on Thursday, January 8th. Royal Bank Of Canada restated an “outperform” rating and set a $210.00 price target (down from $219.00) on shares of Waste Connections in a research note on Tuesday, February 17th. Finally, Deutsche Bank Aktiengesellschaft set a $212.00 price objective on shares of Waste Connections in a report on Friday, February 13th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.