Waste Connections, Inc. (NYSE:WCN) Shares Sold by DRW Securities LLC

DRW Securities LLC cut its stake in Waste Connections, Inc. (NYSE:WCN) by 50.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,269 shares of the business services provider’s stock after selling 1,314 shares during the period. DRW Securities LLC’s holdings in Waste Connections were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Global Trust Asset Management LLC acquired a new stake in shares of Waste Connections during the third quarter worth $36,000. Asset Dedication LLC acquired a new stake in Waste Connections during the 3rd quarter worth about $41,000. Pathway Financial Advisers LLC purchased a new stake in Waste Connections during the 1st quarter valued at about $43,000. Signature Resources Capital Management LLC acquired a new position in shares of Waste Connections in the second quarter valued at about $45,000. Finally, Kennebec Savings Bank purchased a new position in shares of Waste Connections in the third quarter worth about $47,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

Waste Connections stock opened at $193.18 on Thursday. The stock has a market capitalization of $49.85 billion, a P/E ratio of 53.07, a P/E/G ratio of 3.22 and a beta of 0.72. The company’s fifty day moving average price is $181.76 and its 200 day moving average price is $178.21. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. Waste Connections, Inc. has a 1 year low of $132.15 and a 1 year high of $194.83.

Waste Connections (NYSE:WCN) last announced its earnings results 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 for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business earned $1.17 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.65%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio is presently 34.62%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Scotiabank began coverage on Waste Connections in a research report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 target price on the stock. Citigroup increased their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Oppenheimer boosted their target price on shares of Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 price objective (up previously from $200.00) on shares of Waste Connections in a research note on Friday, October 25th. Finally, Royal Bank of Canada upped their target price on Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.