Erste Asset Management GmbH Takes $2 Million Position in Waste Connections, Inc. (NYSE:WCN)

Erste Asset Management GmbH bought a new position in Waste Connections, Inc. (NYSE:WCN) in the third quarter, according to its most recent filing with the SEC. The firm bought 11,258 shares of the business services provider’s stock, valued at approximately $1,998,000.

Several other large investors also recently bought and sold shares of the stock. Global Trust Asset Management LLC purchased a new stake in shares of Waste Connections during the third quarter valued at $36,000. Asset Dedication LLC acquired a new position in shares of Waste Connections in the third quarter valued at about $41,000. Signature Resources Capital Management LLC acquired a new position in shares of Waste Connections in the second quarter valued at about $45,000. Kennebec Savings Bank purchased a new position in shares of Waste Connections in the third quarter worth about $47,000. Finally, Carolinas Wealth Consulting LLC boosted its position in 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 valued at $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.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $191.54 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77. Waste Connections, Inc. has a 1 year low of $137.25 and a 1 year high of $194.83. The firm has a market capitalization of $49.43 billion, a PE ratio of 52.62, a P/E/G ratio of 3.18 and a beta of 0.74. The business’s 50 day moving average price is $182.76 and its 200-day moving average price is $179.02.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $2.34 billion during 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%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 earnings per share. As a group, equities research analysts expect 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. Shareholders of record on Thursday, November 7th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is 34.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WCN shares. JPMorgan Chase & Co. reduced their price target on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Scotiabank began coverage on shares of Waste Connections in a research report on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price for the company. Royal Bank of Canada increased their price target on Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Stifel Nicolaus reissued a “buy” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Waste Connections in a report on Friday, October 25th. Finally, Eight Capital raised Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.56.

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.