PNC Financial Services Group Inc. Has $11.82 Million Holdings in Waste Connections, Inc. (NYSE:WCN)

PNC Financial Services Group Inc. decreased its stake in Waste Connections, Inc. (NYSE:WCNFree Report) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,179 shares of the business services provider’s stock after selling 1,420 shares during the period. PNC Financial Services Group Inc.’s holdings in Waste Connections were worth $11,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in shares of Waste Connections in the fourth quarter valued at about $592,392,000. Simplicity Solutions LLC raised its holdings in Waste Connections by 114.2% in the 4th quarter. Simplicity Solutions LLC now owns 9,205 shares of the business services provider’s stock valued at $1,374,000 after acquiring an additional 4,907 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Waste Connections by 51.6% in the 4th quarter. Nordea Investment Management AB now owns 220,327 shares of the business services provider’s stock worth $32,895,000 after acquiring an additional 74,995 shares during the period. Sycomore Asset Management grew its holdings in shares of Waste Connections by 41.6% during the 4th quarter. Sycomore Asset Management now owns 37,826 shares of the business services provider’s stock worth $5,646,000 after purchasing an additional 11,110 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Waste Connections by 5.0% during the third quarter. New York State Common Retirement Fund now owns 214,346 shares of the business services provider’s stock valued at $28,787,000 after purchasing an additional 10,179 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

WCN has been the subject of several analyst reports. CIBC raised their target price on Waste Connections from $175.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. UBS Group cut Waste Connections from a “buy” rating to a “neutral” rating and increased their target price for the stock from $170.00 to $181.00 in a report on Thursday, February 29th. BMO Capital Markets upped their price target on shares of Waste Connections from $182.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Scotiabank raised their price objective on shares of Waste Connections from $146.50 to $179.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Finally, Atb Cap Markets lowered shares of Waste Connections from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and a consensus price target of $179.33.

View Our Latest Analysis on Waste Connections

Waste Connections Stock Up 0.2 %

Shares of NYSE:WCN opened at $165.55 on Thursday. The company has a 50 day moving average price of $167.27 and a two-hundred day moving average price of $156.08. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $42.72 billion, a PE ratio of 53.75, a PEG ratio of 2.66 and a beta of 0.67. Waste Connections, Inc. has a 52 week low of $126.12 and a 52 week high of $173.02.

Waste Connections (NYSE:WCNGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the business posted $0.89 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Analysts forecast that Waste Connections, Inc. will post 4.85 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.14 annualized dividend and a yield of 0.69%. Waste Connections’s dividend payout ratio (DPR) is currently 37.01%.

Insider Buying and Selling at Waste Connections

In related news, SVP Robert Nielsen III sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total transaction of $332,000.00. Following the sale, the senior vice president now directly owns 6,321 shares in the company, valued at $1,049,286. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Michael W. Harlan sold 1,500 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $167.59, for a total value of $251,385.00. Following the sale, the director now owns 8,004 shares of the company’s stock, valued at $1,341,390.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Robert Nielsen III sold 2,000 shares of Waste Connections stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total transaction of $332,000.00. Following the completion of the sale, the senior vice president now owns 6,321 shares in the company, valued at $1,049,286. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Waste Connections Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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