Pictet Asset Management Holding SA Decreases Stock Position in Waste Connections, Inc. (NYSE:WCN)

Pictet Asset Management Holding SA cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 14.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,674,486 shares of the business services provider's stock after selling 763,300 shares during the quarter. Waste Connections makes up approximately 1.0% of Pictet Asset Management Holding SA's holdings, making the stock its 16th largest holding. Pictet Asset Management Holding SA owned about 1.81% of Waste Connections worth $912,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WCN. Proficio Capital Partners LLC bought a new position in Waste Connections during the 4th quarter worth approximately $387,000. Commonwealth Equity Services LLC lifted its holdings in shares of Waste Connections by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,471 shares of the business services provider's stock worth $2,483,000 after purchasing an additional 411 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of Waste Connections in the 4th quarter worth approximately $69,000. Xponance Inc. raised its holdings in shares of Waste Connections by 14.5% during the fourth quarter. Xponance Inc. now owns 13,980 shares of the business services provider's stock valued at $2,399,000 after buying an additional 1,772 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in shares of Waste Connections by 0.7% during the fourth quarter. Maryland State Retirement & Pension System now owns 15,203 shares of the business services provider's stock valued at $2,607,000 after buying an additional 102 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Up 0.8%

NYSE WCN traded up $1.40 during trading hours on Friday, hitting $183.63. 85,726 shares of the company traded hands, compared to its average volume of 1,024,462. The business's 50-day moving average is $188.58 and its 200-day moving average is $188.00. The stock has a market capitalization of $47.45 billion, a price-to-earnings ratio of 75.60, a P/E/G ratio of 3.17 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.70 and a current ratio of 0.70. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.06. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the business posted $1.04 EPS. The business's revenue was up 7.5% compared to the same quarter last year. Sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current 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%.

Analysts Set New Price Targets

Several research analysts have issued reports on WCN shares. William Blair began coverage on Waste Connections in a report on Thursday, April 3rd. They issued an "outperform" rating on the stock. CIBC lowered their price target on Waste Connections from $215.00 to $212.00 and set an "outperformer" rating on the stock in a report on Tuesday, July 8th. JPMorgan Chase & Co. increased their target price on Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $221.00 price target on shares of Waste Connections in a research note on Friday, April 25th. Finally, Scotiabank raised their price target on shares of Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 8th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $213.93.

Waste Connections 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.

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