Bank of Nova Scotia Has $91.20 Million Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Key Points

• Bank of Nova Scotia has decreased its stake in Waste Connections, Inc. by 3.2%, now holding 467,791 shares valued at approximately $91.20 million.
• The company reported earnings per share of $1.29, surpassing analysts' expectations of $1.25, with a revenue increase of 7.1% year-over-year.
• Waste Connections has announced a quarterly dividend of $0.315 per share, with a yield of 0.7% and a payout ratio of 50.81%.

Bank of Nova Scotia cut its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 3.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 467,791 shares of the business services provider's stock after selling 15,472 shares during the quarter. Bank of Nova Scotia owned 0.18% of Waste Connections worth $91,195,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in Waste Connections by 1.0% in the fourth quarter. American Century Companies Inc. now owns 20,979 shares of the business services provider's stock valued at $3,600,000 after buying an additional 217 shares during the last quarter. LPL Financial LLC lifted its stake in Waste Connections by 26.9% in the fourth quarter. LPL Financial LLC now owns 43,564 shares of the business services provider's stock valued at $7,475,000 after buying an additional 9,240 shares during the last quarter. Geode Capital Management LLC lifted its stake in Waste Connections by 239.9% in the fourth quarter. Geode Capital Management LLC now owns 647,727 shares of the business services provider's stock valued at $115,558,000 after buying an additional 457,137 shares during the last quarter. Bornite Capital Management LP increased its holdings in shares of Waste Connections by 111.7% during the fourth quarter. Bornite Capital Management LP now owns 211,700 shares of the business services provider's stock valued at $36,323,000 after purchasing an additional 111,700 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Waste Connections during the fourth quarter valued at $15,483,000. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Trading Down 0.0%

NYSE:WCN traded down $0.03 during mid-day trading on Friday, hitting $186.64. The company had a trading volume of 1,129,567 shares, compared to its average volume of 1,421,564. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66. The business's fifty day moving average is $187.34 and its two-hundred day moving average is $189.08. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $48.23 billion, a P/E ratio of 75.26, a P/E/G ratio of 3.36 and a beta of 0.58.

Waste Connections (NYSE:WCN - Get Free Report) last released its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. As a group, research analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Wednesday, August 6th will be issued a dividend of $0.315 per share. The ex-dividend date is Wednesday, August 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.7%. Waste Connections's dividend payout ratio (DPR) is presently 50.81%.

Analyst Ratings Changes

A number of research analysts have recently commented on WCN shares. Oppenheimer raised their price target on Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. CIBC reissued an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Raymond James Financial lowered their price target on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a report on Tuesday, July 22nd. National Bank Financial raised Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. Finally, Atb Cap Markets raised Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Waste Connections currently has an average rating of "Buy" and a consensus target price of $215.00.

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.