Waste Connections, Inc. (NYSE:WCN) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its position in shares of Waste Connections, Inc. (NYSE:WCN) by 8.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,126 shares of the business services provider’s stock after selling 959 shares during the quarter. Glenmede Trust Co. NA’s holdings in Waste Connections were worth $1,811,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its position in Waste Connections by 42.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,455 shares of the business services provider’s stock worth $422,000 after buying an additional 728 shares during the period. Tidal Investments LLC increased its stake in shares of Waste Connections by 7.7% during the 1st quarter. Tidal Investments LLC now owns 8,091 shares of the business services provider’s stock valued at $1,392,000 after acquiring an additional 575 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of Waste Connections by 7.0% during the 1st quarter. Atria Investments Inc now owns 10,173 shares of the business services provider’s stock worth $1,750,000 after acquiring an additional 669 shares during the period. Cetera Investment Advisers boosted its position in shares of Waste Connections by 64.8% in the first quarter. Cetera Investment Advisers now owns 15,759 shares of the business services provider’s stock worth $2,711,000 after acquiring an additional 6,198 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in Waste Connections by 163.9% in the first quarter. Cetera Advisors LLC now owns 8,565 shares of the business services provider’s stock valued at $1,473,000 after purchasing an additional 5,320 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WCN shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $205.00 price target (up previously from $200.00) on shares of Waste Connections in a research note on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. BMO Capital Markets lowered their price target on Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Raymond James cut their price objective on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Finally, Oppenheimer boosted their target price on Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.56.

Waste Connections Stock Performance

Waste Connections stock opened at $192.47 on Monday. Waste Connections, Inc. has a 12-month low of $132.65 and a 12-month high of $194.83. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $49.67 billion, a price-to-earnings ratio of 52.88, a price-to-earnings-growth ratio of 3.21 and a beta of 0.72. The firm’s fifty day moving average price is $182.31 and its 200 day moving average price is $178.68.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 earnings per share. On average, research analysts forecast that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.315 per share. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, November 7th. Waste Connections’s dividend payout ratio is 34.62%.

Waste Connections Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.