US Bancorp DE Has $11.26 Million Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

US Bancorp DE reduced its stake in Waste Connections, Inc. (NYSE:WCN) by 7.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,983 shares of the business services provider’s stock after selling 5,432 shares during the quarter. US Bancorp DE’s holdings in Waste Connections were worth $11,263,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WCN. Principal Financial Group Inc. lifted its position in shares of Waste Connections by 1,167.4% in the 2nd quarter. Principal Financial Group Inc. now owns 473,422 shares of the business services provider’s stock worth $83,020,000 after purchasing an additional 436,067 shares during the period. Zurich Insurance Group Ltd FI lifted its holdings in Waste Connections by 438.5% in the first quarter. Zurich Insurance Group Ltd FI now owns 535,471 shares of the business services provider’s stock valued at $92,106,000 after buying an additional 436,041 shares during the period. Nicholas Company Inc. bought a new stake in Waste Connections during the second quarter valued at $64,176,000. Sei Investments Co. grew its holdings in Waste Connections by 252.5% during the 2nd quarter. Sei Investments Co. now owns 510,243 shares of the business services provider’s stock worth $89,477,000 after acquiring an additional 365,487 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Waste Connections by 4,567.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 253,567 shares of the business services provider’s stock worth $44,466,000 after acquiring an additional 248,134 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $176.96 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock has a market cap of $45.67 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 2.95 and a beta of 0.72. The stock’s fifty day simple moving average is $181.32 and its two-hundred day simple moving average is $175.56. Waste Connections, Inc. has a 1-year low of $129.31 and a 1-year high of $187.54.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the firm earned $1.17 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. As a group, analysts forecast that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is presently 31.32%.

Analysts Set New Price Targets

Several research firms recently commented on WCN. Oppenheimer raised their target price on Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Scotiabank started coverage on shares of Waste Connections in a research report on Friday, October 4th. They set a “sector perform” rating and a $196.00 price objective for the company. Raymond James dropped their target price on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. Citigroup raised their price target on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Truist Financial lifted their price target on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.56.

Insider Buying and Selling

In other Waste Connections news, SVP Philip Rivard sold 2,300 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $174.75, for a total value of $401,925.00. Following the completion of the transaction, the senior vice president now owns 1,226 shares in the company, valued at $214,243.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Philip Rivard sold 2,300 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $174.75, for a total transaction of $401,925.00. Following the completion of the transaction, the senior vice president now directly owns 1,226 shares of the company’s stock, valued at $214,243.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the sale, the senior vice president now owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.