Waste Connections, Inc. (NYSE:WCN) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in Waste Connections, Inc. (NYSE:WCN) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,720 shares of the business services provider’s stock after acquiring an additional 9,374 shares during the period. PNC Financial Services Group Inc.’s holdings in Waste Connections were worth $15,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new position in shares of Waste Connections in the fourth quarter worth about $26,000. Private Trust Co. NA raised its position in Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after buying an additional 92 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Waste Connections during the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC lifted its stake in Waste Connections by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 71 shares during the period. Finally, Sierra Ocean LLC purchased a new stake in shares of Waste Connections in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WCN shares. StockNews.com downgraded shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Morgan Stanley upped their target price on Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Stifel Nicolaus raised their target price on Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. CIBC decreased their price target on Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Scotiabank dropped their price objective on shares of Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and a consensus price target of $202.43.

Waste Connections Trading Down 1.2 %

Shares of Waste Connections stock opened at $186.16 on Tuesday. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $194.83. The firm’s 50-day moving average price is $183.06 and its 200 day moving average price is $182.55. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $48.04 billion, a PE ratio of 77.89, a P/E/G ratio of 3.07 and a beta of 0.81.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. On average, sell-side analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, February 27th. Waste Connections’s payout ratio is currently 52.72%.

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.