Bank of New York Mellon Corp Sells 2,310 Shares of Waste Connections, Inc. (NYSE:WCN)

Bank of New York Mellon Corp cut its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 0.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 407,212 shares of the business services provider's stock after selling 2,310 shares during the period. Bank of New York Mellon Corp owned approximately 0.16% of Waste Connections worth $79,484,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Checchi Capital Advisers LLC grew its position in shares of Waste Connections by 4.6% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider's stock worth $249,000 after purchasing an additional 56 shares in the last quarter. Tranquility Partners LLC grew its position in Waste Connections by 1.4% during the first quarter. Tranquility Partners LLC now owns 4,354 shares of the business services provider's stock worth $850,000 after buying an additional 58 shares in the last quarter. Oarsman Capital Inc. grew its position in Waste Connections by 41.4% during the fourth quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock worth $38,000 after buying an additional 65 shares in the last quarter. AdvisorNet Financial Inc increased its stake in Waste Connections by 28.9% during the 1st quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider's stock worth $57,000 after acquiring an additional 65 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of 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. 86.09% of the stock is owned by institutional investors.

Waste Connections Trading Up 0.8%

NYSE WCN traded up $1.42 on Friday, hitting $183.43. The company's stock had a trading volume of 1,389,814 shares, compared to its average volume of 1,021,185. The firm has a market cap of $47.40 billion, a PE ratio of 75.49, a PEG ratio of 3.16 and a beta of 0.60. The company's 50-day moving average is $189.72 and its 200 day moving average is $187.68. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.06. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. Waste Connections had a return on equity of 15.74% and a net margin of 6.93%. Waste Connections's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 earnings per share. As a group, analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, May 7th. Waste Connections's dividend payout ratio is currently 51.85%.

Analyst Upgrades and Downgrades

WCN has been the topic of a number of recent analyst reports. Scotiabank raised their price target on Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 8th. National Bank Financial upgraded shares of Waste Connections to a "strong-buy" rating in a research report on Monday, May 26th. Melius started coverage on shares of Waste Connections in a report on Monday, June 9th. They set a "buy" rating for the company. JPMorgan Chase & Co. lifted their price objective on shares of Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Finally, Oppenheimer upped their target price on Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Connections has an average rating of "Buy" and a consensus target price of $213.93.

Waste Connections Company 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.