Gulf International Bank UK Ltd Has $3.03 Million Holdings in Waste Connections, Inc. (NYSE:WCN)

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in Waste Connections, Inc. by 23.1%, now owning 15,502 shares worth approximately $3,025,000.
• In the first quarter, several other institutional investors increased their stakes in Waste Connections significantly, with Larson Financial Group LLC boosting its investment by 994.4%.
• Waste Connections is experiencing positive analyst sentiment, with multiple upgrades and a consensus price target of $215.00 reflecting an overall "Buy" rating.

Gulf International Bank UK Ltd trimmed its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,502 shares of the business services provider's stock after selling 4,663 shares during the period. Gulf International Bank UK Ltd's holdings in Waste Connections were worth $3,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WCN. Townsquare Capital LLC increased its stake in Waste Connections by 60.6% during the fourth quarter. Townsquare Capital LLC now owns 3,221 shares of the business services provider's stock valued at $553,000 after acquiring an additional 1,216 shares during the period. Mariner LLC increased its stake in Waste Connections by 6.4% during the fourth quarter. Mariner LLC now owns 50,796 shares of the business services provider's stock valued at $8,715,000 after acquiring an additional 3,042 shares during the period. NewEdge Advisors LLC increased its stake in Waste Connections by 5.1% during the fourth quarter. NewEdge Advisors LLC now owns 8,569 shares of the business services provider's stock valued at $1,470,000 after acquiring an additional 414 shares during the period. Marshall Wace LLP increased its stake in Waste Connections by 315.7% during the fourth quarter. Marshall Wace LLP now owns 65,321 shares of the business services provider's stock valued at $11,208,000 after acquiring an additional 49,609 shares during the period. Finally, Capital International Sarl increased its stake in Waste Connections by 7.0% during the fourth quarter. Capital International Sarl now owns 9,093 shares of the business services provider's stock valued at $1,560,000 after acquiring an additional 592 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Trading Up 0.0%

NYSE:WCN traded up $0.05 during trading hours on Friday, hitting $184.78. 904,236 shares of the stock were exchanged, compared to its average volume of 1,228,545. The company's 50 day moving average is $185.91 and its two-hundred day moving average is $189.55. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $47.75 billion, a P/E ratio of 74.51, a price-to-earnings-growth ratio of 3.33 and a beta of 0.58.

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

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th will be paid a $0.315 dividend. The ex-dividend date of this dividend 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 is 50.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. CIBC reiterated an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. Citigroup lowered their price objective on Waste Connections from $208.00 to $204.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. National Bank Financial upgraded Waste Connections to a "strong-buy" rating in a research note on Monday, May 26th. Raymond James Financial lowered their price objective on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, July 22nd. Finally, Royal Bank Of Canada decreased their price target on Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $215.00.

About Waste Connections

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.