Cibc World Markets Corp Sells 3,358 Shares of Waste Connections, Inc. (NYSE:WCN)

Cibc World Markets Corp lowered its position in Waste Connections, Inc. (NYSE:WCN) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,677 shares of the business services provider’s stock after selling 3,358 shares during the quarter. Cibc World Markets Corp’s holdings in Waste Connections were worth $2,004,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WCN. Manchester Capital Management LLC bought a new position in Waste Connections in the fourth quarter valued at $26,000. Private Trust Co. NA increased its stake in Waste Connections by 153.3% in the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 92 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in Waste Connections in the fourth quarter valued at $27,000. Smartleaf Asset Management LLC increased its stake in Waste Connections by 59.7% in the fourth 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 last quarter. Finally, Sierra Ocean LLC purchased a new stake in Waste Connections during the fourth quarter valued at about $39,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Down 0.3 %

WCN stock opened at $189.35 on Friday. Waste Connections, Inc. has a fifty-two week low of $160.34 and a fifty-two week high of $194.83. The business’s 50 day moving average price is $185.60 and its two-hundred day moving average price is $182.64. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $48.86 billion, a price-to-earnings ratio of 79.22, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share 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%. As a group, analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.67%. Waste Connections’s dividend payout ratio (DPR) is 52.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WCN. Stifel Nicolaus increased their target price on Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Citigroup increased their price objective on Waste Connections from $195.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Jefferies Financial Group decreased their target price on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Scotiabank dropped their price target on shares of Waste Connections from $196.00 to $192.00 and set a “sector perform” rating for the company in a research report on Monday, January 27th. Finally, StockNews.com cut shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.43.

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.