Public Sector Pension Investment Board Acquires 32,184 Shares of Waste Connections, Inc. $WCN

Public Sector Pension Investment Board increased its holdings in Waste Connections, Inc. (NYSE:WCN) by 128.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,228 shares of the business services provider’s stock after buying an additional 32,184 shares during the period. Public Sector Pension Investment Board’s holdings in Waste Connections were worth $10,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WCN. Asset Dedication LLC bought a new position in Waste Connections during the 2nd quarter worth $28,000. Greykasell Wealth Strategies Inc. lifted its position in shares of Waste Connections by 555.2% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 161 shares during the period. AlphaCore Capital LLC acquired a new stake in shares of Waste Connections during the 2nd quarter worth $39,000. Caldwell Trust Co acquired a new stake in shares of Waste Connections during the 2nd quarter worth $49,000. Finally, TD Private Client Wealth LLC increased its position in shares of Waste Connections by 479.3% in the third quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock worth $59,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WCN. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on shares of Waste Connections in a research report on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $205.00 price target (down previously from $206.00) on shares of Waste Connections in a report on Friday, January 23rd. Stifel Nicolaus set a $213.00 price target on shares of Waste Connections and gave the stock a “buy” rating in a research report on Friday. UBS Group set a $205.00 price objective on shares of Waste Connections in a research note on Monday, January 5th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Monday, January 5th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $204.20.

Waste Connections Price Performance

WCN stock opened at $160.41 on Tuesday. The stock has a market cap of $41.01 billion, a price-to-earnings ratio of 38.47, a P/E/G ratio of 2.84 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.62 and a quick ratio of 0.62. The company has a 50 day simple moving average of $170.55 and a 200 day simple moving average of $174.25. Waste Connections, Inc. has a 1 year low of $155.65 and a 1 year high of $201.66.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. Research analysts anticipate 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 12th. Investors of record on Wednesday, February 25th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, February 25th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections’s payout ratio is currently 33.57%.

Waste Connections Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.