CIBC Asset Management Inc Sells 7,822 Shares of Waste Connections, Inc. (NYSE:WCN)

CIBC Asset Management Inc decreased its holdings in Waste Connections, Inc. (NYSE:WCN) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 952,003 shares of the business services provider’s stock after selling 7,822 shares during the quarter. CIBC Asset Management Inc owned 0.37% of Waste Connections worth $163,575,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pittenger & Anderson Inc. raised its position in Waste Connections by 18.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 25,990 shares of the business services provider’s stock worth $4,459,000 after purchasing an additional 4,105 shares in the last quarter. Highview Capital Management LLC DE raised its holdings in shares of Waste Connections by 5.3% in the 4th quarter. Highview Capital Management LLC DE now owns 6,814 shares of the business services provider’s stock worth $1,169,000 after buying an additional 344 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Waste Connections by 5.7% in the 4th quarter. Principal Financial Group Inc. now owns 2,036,856 shares of the business services provider’s stock worth $349,483,000 after buying an additional 109,701 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Waste Connections during the 4th quarter worth approximately $39,000. Finally, Allworth Financial LP boosted its stake in Waste Connections by 1,412.9% in the 4th quarter. Allworth Financial LP now owns 73,438 shares of the business services provider’s stock valued at $13,105,000 after buying an additional 68,584 shares in the last quarter. 86.09% of the stock is owned by institutional investors.

Waste Connections Stock Up 0.1 %

NYSE:WCN opened at $189.08 on Monday. The stock’s fifty day simple moving average is $179.36 and its 200-day simple moving average is $181.70. The firm has a market capitalization of $48.80 billion, a P/E ratio of 51.94, a P/E/G ratio of 2.97 and a beta of 0.77. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Waste Connections, Inc. has a 12-month low of $160.34 and a 12-month high of $194.83.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. Equities research analysts expect that Waste Connections, Inc. will post 4.83 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, February 27th. Waste Connections’s payout ratio is presently 34.62%.

Wall Street Analyst Weigh In

WCN has been the subject of several recent analyst reports. Citigroup increased their price objective on Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Raymond James dropped their target price on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a research report on Friday, October 25th. CIBC reduced their price target on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley raised their price objective on shares of Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a report on Friday. Finally, 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. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

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.