Two Sigma Investments LP Lowers Position in Waste Connections, Inc. (NYSE:WCN)

Two Sigma Investments LP decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 972,951 shares of the business services provider's stock after selling 167,196 shares during the quarter. Two Sigma Investments LP owned about 0.38% of Waste Connections worth $166,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in shares of Waste Connections in the fourth quarter worth $687,935,000. FIL Ltd increased its holdings in shares of Waste Connections by 46.2% in the fourth quarter. FIL Ltd now owns 7,177,724 shares of the business services provider's stock worth $1,231,368,000 after purchasing an additional 2,269,652 shares during the period. Raymond James Financial Inc. bought a new position in shares of Waste Connections in the fourth quarter worth $240,422,000. Capital International Investors increased its holdings in shares of Waste Connections by 17.8% in the fourth quarter. Capital International Investors now owns 5,949,152 shares of the business services provider's stock worth $1,020,672,000 after purchasing an additional 899,058 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Waste Connections by 239.9% in the fourth quarter. Geode Capital Management LLC now owns 647,727 shares of the business services provider's stock worth $115,558,000 after purchasing an additional 457,137 shares during the period. Institutional investors own 86.09% of the company's stock.

Waste Connections Trading Up 0.9%

Shares of NYSE:WCN traded up $1.76 on Friday, reaching $196.67. 859,473 shares of the company traded hands, compared to its average volume of 1,003,888. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $50.81 billion, a P/E ratio of 82.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $201.66. The business's 50-day simple moving average is $193.58 and its 200 day simple moving average is $186.92.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.06. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. Waste Connections's quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $1.04 earnings per share. As a group, equities analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were paid a $0.315 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $1.26 annualized dividend and a dividend yield of 0.64%. Waste Connections's payout ratio is presently 51.85%.

Analysts Set New Price Targets

WCN has been the subject of several research reports. Wall Street Zen lowered shares of Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $221.00 target price on shares of Waste Connections in a research report on Friday, April 25th. Jefferies Financial Group cut their target price on shares of Waste Connections from $225.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Morgan Stanley upped their target price on shares of Waste Connections from $214.00 to $219.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, BMO Capital Markets upped their target price on shares of Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Waste Connections currently has an average rating of "Moderate Buy" and an average price target of $212.23.

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.