Lansforsakringar Fondforvaltning AB publ Has $14.32 Million Position in Waste Connections, Inc. $WCN

Lansforsakringar Fondforvaltning AB publ lifted its stake in Waste Connections, Inc. (NYSE:WCN) by 6.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,476 shares of the business services provider’s stock after buying an additional 4,775 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Waste Connections were worth $14,323,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Waste Connections in the 2nd quarter valued at approximately $755,938,000. Picton Mahoney Asset Management acquired a new stake in shares of Waste Connections during the 2nd quarter worth approximately $140,935,000. Vanguard Group Inc. grew its holdings in shares of Waste Connections by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 31,585,284 shares of the business services provider’s stock worth $5,552,682,000 after purchasing an additional 717,440 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Waste Connections by 55.7% in the third 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 in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Waste Connections by 14.0% during the second quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider’s stock worth $975,190,000 after buying an additional 642,426 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Performance

NYSE:WCN opened at $162.86 on Tuesday. The stock has a market capitalization of $41.64 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 2.81 and a beta of 0.62. 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, Inc. has a 1 year low of $155.65 and a 1 year high of $201.66. The firm has a 50 day moving average of $169.75 and a 200-day moving average of $173.40.

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

Waste Connections Dividend Announcement

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

Wall Street Analysts Forecast Growth

WCN has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of Waste Connections in a research note on Monday, November 24th. They issued a “buy” rating and a $202.00 price objective for the company. Morgan Stanley set a $205.00 price target on shares of Waste Connections and gave the stock an “overweight” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. cut their price target on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on Waste Connections in a research note on Friday, February 13th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $205.00 target price (up previously from $200.00) on shares of Waste Connections in a research report on Monday, January 5th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.