Capital Group Private Client Services Inc. Sells 197,505 Shares of Waste Connections, Inc. $WCN

Capital Group Private Client Services Inc. lowered its position in shares of Waste Connections, Inc. (NYSE:WCN) by 75.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,631 shares of the business services provider’s stock after selling 197,505 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Waste Connections were worth $11,538,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Asset Dedication LLC acquired a new stake in Waste Connections in the second quarter worth about $28,000. Greykasell Wealth Strategies Inc. raised its holdings in Waste Connections by 555.2% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock worth $33,000 after purchasing an additional 161 shares during the last quarter. AlphaCore Capital LLC acquired a new position in Waste Connections during the 2nd quarter valued at about $39,000. Caldwell Trust Co bought a new position in shares of Waste Connections in the 2nd quarter valued at about $49,000. Finally, TD Private Client Wealth LLC boosted its stake in shares of Waste Connections by 479.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 278 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $171.71 on Tuesday. The firm’s 50 day simple moving average is $168.39 and its 200 day simple moving average is $172.25. Waste Connections, Inc. has a fifty-two week low of $155.65 and a fifty-two week high of $201.66. The company has a market capitalization of $43.90 billion, a price-to-earnings ratio of 41.18, a P/E/G ratio of 2.92 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.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 earnings per share. As a group, sell-side analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Wednesday, February 25th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections’s payout ratio is 33.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WCN shares. The Goldman Sachs Group began coverage on shares of Waste Connections in a research note on Monday, November 24th. They set a “buy” rating and a $202.00 price target for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective (down from $219.00) on shares of Waste Connections in a research note on Tuesday, February 17th. JPMorgan Chase & Co. lowered their target price on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $212.00 price target on Waste Connections in a research note on Friday, February 13th. Finally, Morgan Stanley set a $205.00 price target on Waste Connections and gave the stock an “overweight” rating in a research report on Friday, February 13th. Four equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $203.75.

About Waste Connections

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.