Capital International Investors Has $887.05 Million Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• Capital International Investors cut its stake in Waste Connections by 16.0% in the third quarter, selling 958,474 shares and now holding 5,047,338 shares worth about $887.05 million (≈1.97% of the company).
• Waste Connections reported $1.29 EPS (beat by $0.01) and revenue of $2.35 billion, up 5% year-over-year, with a market cap of $42.36 billion and a P/E of 39.73.
• The company pays a quarterly dividend of $0.35 (annualized $1.40, yield 0.8%, payout ratio 33.6%), and analysts have an average "Buy" rating with a consensus price target of $203.75.

Capital International Investors lessened its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 16.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,047,338 shares of the business services provider's stock after selling 958,474 shares during the quarter. Capital International Investors owned approximately 1.97% of Waste Connections worth $887,047,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WCN. Vanguard Group Inc. grew its position in Waste Connections by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 31,585,284 shares of the business services provider's stock worth $5,552,682,000 after acquiring an additional 717,440 shares during the last quarter. Mackenzie Financial Corp raised its position in Waste Connections by 14.0% in the second quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider's stock valued at $975,190,000 after purchasing an additional 642,426 shares during the last quarter. Norges Bank acquired a new stake in shares of Waste Connections during the second quarter valued at about $755,938,000. 1832 Asset Management L.P. boosted its stake in shares of Waste Connections by 3.4% during the second quarter. 1832 Asset Management L.P. now owns 3,995,575 shares of the business services provider's stock valued at $746,054,000 after purchasing an additional 132,455 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Waste Connections by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 3,474,700 shares of the business services provider's stock worth $610,853,000 after purchasing an additional 35,720 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Performance

Shares of WCN stock opened at $165.67 on Wednesday. The firm has a 50 day moving average of $168.14 and a 200-day moving average of $172.11. The company has a market cap of $42.36 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 2.95 and a beta of 0.62. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.07. Waste Connections, Inc. has a 52 week low of $155.65 and a 52 week high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last issued its earnings results on Wednesday, February 11th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the business posted $1.16 EPS. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, February 25th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections's payout ratio is currently 33.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company began coverage on shares of Waste Connections in a report on Thursday, November 13th. They issued an "overweight" rating and a $186.00 price objective for the company. Morgan Stanley set a $205.00 target price on shares of Waste Connections and gave the stock an "overweight" rating in a report on Friday, February 13th. Canadian Imperial Bank of Commerce set a $208.00 price target on shares of Waste Connections in a research report on Thursday, January 8th. JPMorgan Chase & Co. dropped their price target on shares of Waste Connections from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, January 14th. Finally, Scotiabank set a $197.00 price target on shares of Waste Connections and gave the stock a "sector outperform" rating in a report on Friday, February 13th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $203.75.

Waste Connections Company Profile

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.

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