Zions Bancorporation N.A. cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,038 shares of the business services provider’s stock after selling 70 shares during the period. Zions Bancorporation N.A.’s holdings in Waste Connections were worth $186,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC acquired a new position in shares of Waste Connections during the third quarter worth $36,000. Asset Dedication LLC bought a new stake in shares of Waste Connections in the 3rd quarter valued at about $41,000. Pathway Financial Advisers LLC acquired a new stake in shares of Waste Connections in the first quarter valued at about $43,000. Signature Resources Capital Management LLC bought a new position in shares of Waste Connections during the second quarter worth about $45,000. Finally, Kennebec Savings Bank bought a new stake in Waste Connections in the third quarter valued at approximately $47,000. 86.09% of the stock is owned by institutional investors.
Waste Connections Stock Performance
Shares of Waste Connections stock opened at $183.50 on Friday. Waste Connections, Inc. has a 52 week low of $130.33 and a 52 week high of $188.30. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $180.81 and a 200-day moving average price of $176.60. The company has a market cap of $47.35 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 3.13 and a beta of 0.72.
Waste Connections Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.315 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is presently 34.62%.
Analyst Ratings Changes
Several research firms have recently weighed in on WCN. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Friday, October 25th. Citigroup increased their price target on Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Royal Bank of Canada boosted their price objective on Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Raymond James lowered their target price on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a report on Friday, October 25th. Finally, TD Cowen boosted their price target on Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.56.
Waste Connections Company 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.
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