Rathbones Group PLC Acquires 15,749 Shares of Waste Connections, Inc. $WCN

Key Points

• Rathbones Group PLC raised its stake in Waste Connections by 2.4%, buying 15,749 shares to hold 661,576 shares (a 0.26% stake) valued at about $116.3 million, while institutional investors own roughly 86.09% of the stock.
• Waste Connections reported Q results of $1.29 EPS (beating by $0.01) on $2.35 billion revenue (slightly below estimates), and the stock trades with a $43.5 billion market cap, a P/E of 40.83, and a 52-week range of $155.65–$201.66.
• Dividend and analyst outlook: the company announced a $0.35 quarterly dividend ($1.40 annual, 0.8% yield; ex-dividend Feb 25), and Wall Street consensus is a "Buy" with an average target of $203.75 and multiple Outperform/Overweight ratings.

Rathbones Group PLC increased its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 661,576 shares of the business services provider's stock after buying an additional 15,749 shares during the period. Rathbones Group PLC owned 0.26% of Waste Connections worth $116,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Asset Dedication LLC bought a new position in Waste Connections during the 2nd quarter worth $28,000. Greykasell Wealth Strategies Inc. grew its holdings in shares of Waste Connections by 555.2% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider's stock worth $33,000 after purchasing an additional 161 shares in the last quarter. AlphaCore Capital LLC bought a new position in shares of Waste Connections in the second quarter worth $39,000. Caldwell Trust Co acquired a new position in Waste Connections in the second quarter valued at about $49,000. Finally, TD Private Client Wealth LLC raised its stake in Waste Connections by 479.3% in the third quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider's stock valued at $59,000 after purchasing an additional 278 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Down 0.3%

Shares of WCN opened at $170.25 on Friday. The stock has a market capitalization of $43.53 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 2.92 and a beta of 0.62. Waste Connections, Inc. has a 52 week low of $155.65 and a 52 week high of $201.66. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a fifty day moving average of $168.53 and a 200-day moving average of $172.45.

Waste Connections (NYSE:WCN - Get Free Report) last issued its earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.37 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Wednesday, February 25th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, February 25th. Waste Connections's dividend payout ratio (DPR) is 33.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Oppenheimer reiterated an "outperform" rating and set a $205.00 price objective (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $210.00 price objective (down from $219.00) on shares of Waste Connections in a research note on Tuesday, February 17th. Morgan Stanley set a $205.00 target price on Waste Connections and gave the company an "overweight" rating in a report on Friday, February 13th. Canadian Imperial Bank of Commerce set a $208.00 price target on Waste Connections in a report on Thursday, January 8th. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Monday, January 5th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Waste Connections presently has an average rating of "Buy" and a consensus target price of $203.75.

About Waste Connections

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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