Waste Connections, Inc. (NYSE:WCN) Position Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in shares of Waste Connections, Inc. (NYSE:WCN) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 78,346 shares of the business services provider’s stock after purchasing an additional 482 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Waste Connections were worth $14,010,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Global Trust Asset Management LLC bought a new stake in Waste Connections in the third quarter worth about $36,000. Asset Dedication LLC bought a new stake in shares of Waste Connections in the 3rd quarter worth approximately $41,000. Pathway Financial Advisers LLC acquired a new stake in Waste Connections during the first quarter valued at approximately $43,000. Signature Resources Capital Management LLC bought a new stake in Waste Connections during the second quarter worth approximately $45,000. Finally, Kennebec Savings Bank acquired a new position in Waste Connections in the third quarter worth approximately $47,000. Institutional investors own 86.09% of the company’s stock.

Analysts Set New Price Targets

WCN has been the subject of several research reports. BMO Capital Markets reduced their price objective on Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada lifted their price target on Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Scotiabank initiated coverage on shares of Waste Connections in a research note on Friday, October 4th. They set a “sector perform” rating and a $196.00 price objective for the company. Raymond James cut their price target on shares of 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, Eight Capital raised shares of Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and a consensus price target of $195.56.

Waste Connections Price Performance

NYSE WCN opened at $189.85 on Friday. 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 stock has a market capitalization of $48.99 billion, a PE ratio of 52.16, a price-to-earnings-growth ratio of 3.13 and a beta of 0.72. Waste Connections, Inc. has a 12-month low of $132.15 and a 12-month high of $190.77. The company has a 50 day moving average price of $181.07 and a two-hundred day moving average price of $177.56.

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

Waste Connections Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.315 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is presently 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.