Legal & General Group Plc Raises Position in Waste Connections, Inc. (NYSE:WCN)

Legal & General Group Plc increased its holdings in Waste Connections, Inc. (NYSE:WCNFree Report) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,249,695 shares of the business services provider’s stock after purchasing an additional 75,878 shares during the quarter. Legal & General Group Plc’s holdings in Waste Connections were worth $168,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. WCM Investment Management LLC raised its position in Waste Connections by 12.8% in the 3rd quarter. WCM Investment Management LLC now owns 10,218,545 shares of the business services provider’s stock worth $1,378,788,000 after purchasing an additional 1,157,470 shares during the period. TD Asset Management Inc increased its position in shares of Waste Connections by 3.3% in the second quarter. TD Asset Management Inc now owns 5,242,678 shares of the business services provider’s stock valued at $749,943,000 after acquiring an additional 169,335 shares during the period. Norges Bank purchased a new position in shares of Waste Connections in the fourth quarter valued at about $602,107,000. 1832 Asset Management L.P. increased its position in shares of Waste Connections by 0.6% in the second quarter. 1832 Asset Management L.P. now owns 3,736,081 shares of the business services provider’s stock valued at $533,998,000 after acquiring an additional 23,110 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Waste Connections by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 3,463,567 shares of the business services provider’s stock valued at $494,980,000 after acquiring an additional 95,279 shares during the period. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Insider Activity at Waste Connections

In related news, Director Andrea E. Bertone sold 902 shares of Waste Connections stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $169.17, for a total transaction of $152,591.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Andrea E. Bertone sold 902 shares of Waste Connections stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $169.17, for a total transaction of $152,591.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Philip Rivard sold 5,097 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $146.26, for a total transaction of $745,487.22. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Waste Connections Trading Up 0.1 %

Shares of WCN stock opened at $168.13 on Friday. The stock has a market capitalization of $43.32 billion, a P/E ratio of 56.80, a P/E/G ratio of 2.76 and a beta of 0.66. The firm’s 50 day moving average is $157.29 and its 200 day moving average is $144.50. Waste Connections, Inc. has a 12-month low of $126.12 and a 12-month high of $171.49. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88.

Waste Connections (NYSE:WCNGet Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The business services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. Waste Connections had a net margin of 9.51% and a return on equity of 14.42%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period last year, the company posted $0.89 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Research analysts expect that Waste Connections, Inc. will post 4.85 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.285 per share. The ex-dividend date is Tuesday, February 27th. This represents a $1.14 dividend on an annualized basis and a yield of 0.68%. Waste Connections’s payout ratio is 38.51%.

Analysts Set New Price Targets

WCN has been the topic of a number of analyst reports. CIBC boosted their price objective on shares of Waste Connections from $175.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. BMO Capital Markets boosted their price objective on shares of Waste Connections from $166.00 to $178.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Stifel Nicolaus boosted their price objective on shares of Waste Connections from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Wells Fargo & Company increased their price target on shares of Waste Connections from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Finally, Scotiabank increased their price target on shares of Waste Connections from $146.50 to $179.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Waste Connections presently has an average rating of “Moderate Buy” and an average target price of $171.88.

View Our Latest Report on Waste Connections

About Waste Connections

(Free Report)

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.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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