BB&T Securities LLC Boosts Position in Waste Connections Inc (WCN)

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BB&T Securities LLC boosted its holdings in Waste Connections Inc (NYSE:WCN) by 28.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,642 shares of the business services provider’s stock after purchasing an additional 8,067 shares during the quarter. BB&T Securities LLC’s holdings in Waste Connections were worth $2,719,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. First Hawaiian Bank raised its holdings in Waste Connections by 28.0% in the fourth quarter. First Hawaiian Bank now owns 860 shares of the business services provider’s stock valued at $63,000 after buying an additional 188 shares during the period. M&T Bank Corp raised its stake in shares of Waste Connections by 2.0% during the fourth quarter. M&T Bank Corp now owns 10,330 shares of the business services provider’s stock valued at $767,000 after purchasing an additional 202 shares during the period. Advisor Partners LLC raised its stake in shares of Waste Connections by 7.8% during the fourth quarter. Advisor Partners LLC now owns 3,675 shares of the business services provider’s stock valued at $273,000 after purchasing an additional 267 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Waste Connections by 31.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,130 shares of the business services provider’s stock valued at $84,000 after purchasing an additional 268 shares during the period. Finally, ETF Managers Group LLC raised its stake in shares of Waste Connections by 17.3% during the fourth quarter. ETF Managers Group LLC now owns 1,839 shares of the business services provider’s stock valued at $137,000 after purchasing an additional 271 shares during the period. Hedge funds and other institutional investors own 81.68% of the company’s stock.

WCN opened at $83.92 on Thursday. The company has a market cap of $22.04 billion, a PE ratio of 38.85, a PEG ratio of 2.50 and a beta of 0.30. Waste Connections Inc has a 52-week low of $67.63 and a 52-week high of $85.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.25.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, February 13th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Waste Connections had a net margin of 15.14% and a return on equity of 10.07%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. Equities research analysts predict that Waste Connections Inc will post 2.52 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.76%. Waste Connections’s payout ratio is currently 29.63%.

A number of analysts have recently issued reports on WCN shares. ValuEngine upgraded shares of Waste Connections from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Sunday, January 6th. TD Securities set a $87.00 price objective on shares of Waste Connections and gave the company a “hold” rating in a research note on Wednesday, November 28th. Oppenheimer set a $87.00 price objective on shares of Waste Connections and gave the company a “buy” rating in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada lifted their price objective on shares of Waste Connections from $84.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, October 31st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $87.40.

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Waste Connections Profile

Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office 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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