Waste Connections, Inc. (NYSE:WCN) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its position in shares of Waste Connections, Inc. (NYSE:WCN) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,394 shares of the business services provider’s stock after selling 4,430 shares during the period. Van ECK Associates Corp’s holdings in Waste Connections were worth $8,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new stake in shares of Waste Connections during the third quarter worth about $36,000. Asset Dedication LLC purchased a new stake in Waste Connections during the 3rd quarter worth approximately $41,000. Pathway Financial Advisers LLC acquired a new position in shares of Waste Connections in the 1st quarter valued at approximately $43,000. Signature Resources Capital Management LLC purchased a new position in shares of Waste Connections during the 2nd quarter valued at approximately $45,000. Finally, Carolinas Wealth Consulting LLC increased its stake in shares of Waste Connections by 3,885.7% in the second quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock worth $49,000 after buying an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on WCN. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday, October 25th. Eight Capital upgraded Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets lowered their price objective on Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Royal Bank of Canada increased their target price on Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Oppenheimer boosted their price target on Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Connections currently has a consensus rating of “Moderate Buy” and an average target price of $195.56.

Waste Connections Trading Up 0.3 %

Shares of NYSE:WCN opened at $179.38 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $180.88 and its 200 day moving average price is $175.85. The company has a market cap of $46.29 billion, a PE ratio of 49.28, a P/E/G ratio of 2.97 and a beta of 0.72. Waste Connections, Inc. has a fifty-two week low of $129.31 and a fifty-two week high of $187.54.

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

Waste Connections Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is 31.32%.

About Waste Connections

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.