PNC Financial Services Group Inc. Acquires 1,715 Shares of Waste Connections, Inc. (NYSE:WCN)

PNC Financial Services Group Inc. raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,435 shares of the business services provider's stock after purchasing an additional 1,715 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Waste Connections were worth $17,457,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in WCN. Aster Capital Management DIFC Ltd bought a new stake in shares of Waste Connections in the 4th quarter worth about $28,000. Ramirez Asset Management Inc. lifted its holdings in Waste Connections by 122.0% during the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock valued at $36,000 after buying an additional 100 shares in the last quarter. Oarsman Capital Inc. lifted its holdings in Waste Connections by 41.4% during the 4th quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock valued at $38,000 after buying an additional 65 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Waste Connections by 994.4% during the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock valued at $38,000 after buying an additional 179 shares in the last quarter. Finally, Global Financial Private Client LLC increased its position in Waste Connections by 890.0% during the 1st quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock valued at $39,000 after purchasing an additional 178 shares during the period. Institutional investors own 86.09% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on WCN shares. Seaport Res Ptn raised shares of Waste Connections to a "strong-buy" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Atb Cap Markets raised shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Royal Bank Of Canada cut their price objective on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Finally, Raymond James Financial dropped their target price on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Connections currently has a consensus rating of "Buy" and an average target price of $215.00.

Waste Connections Trading Up 0.5%

Shares of WCN opened at $187.45 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66. The firm has a 50-day moving average price of $187.16 and a 200 day moving average price of $189.22. The firm has a market capitalization of $48.43 billion, a P/E ratio of 75.58, a P/E/G ratio of 3.36 and a beta of 0.58.

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

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 6th. Waste Connections's dividend payout ratio is currently 50.81%.

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.

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