Waste Connections, Inc. (NYSE:WCN) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Waste Connections by 95.8% during the 1st quarter, owning 117,100 shares valued at approximately $22.9 million.
• Waste Connections reported a $1.29 EPS for the last quarter, exceeding analysts' expectations of $1.25, with revenues of $2.41 billion, a year-over-year increase of 7.1%.
• The company announced a quarterly dividend of $0.315 per share, representing a 0.7% yield, to be paid on August 21st, with an ex-dividend date of August 6th.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 95.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,100 shares of the business services provider's stock after purchasing an additional 57,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Waste Connections were worth $22,857,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC boosted its stake in Waste Connections by 37.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,796 shares of the business services provider's stock worth $350,000 after purchasing an additional 488 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Waste Connections by 89.5% during the 1st quarter. Private Trust Co. NA now owns 288 shares of the business services provider's stock worth $56,000 after acquiring an additional 136 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Waste Connections by 19.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider's stock worth $1,379,000 after acquiring an additional 1,137 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Waste Connections by 41.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider's stock worth $3,843,000 after acquiring an additional 5,733 shares during the period. Finally, Premier Fund Managers Ltd raised its holdings in shares of Waste Connections by 10.0% during the 1st quarter. Premier Fund Managers Ltd now owns 331,088 shares of the business services provider's stock worth $63,841,000 after acquiring an additional 30,136 shares during the period. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Stock Performance

Shares of Waste Connections stock opened at $185.70 on Thursday. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66. The company has a market cap of $47.98 billion, a PE ratio of 74.88, a P/E/G ratio of 3.38 and a beta of 0.58. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. The business has a 50-day simple moving average of $186.16 and a 200-day simple moving average of $189.52.

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

Waste Connections Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WCN. JPMorgan Chase & Co. lifted their price target on Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. BMO Capital Markets lifted their price target on Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Melius began coverage on Waste Connections in a report on Monday, June 9th. They set a "buy" rating on the stock. CIBC reiterated an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Finally, Raymond James Financial reduced their price target on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a report on Tuesday, July 22nd. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Connections has an average rating of "Buy" and a consensus target price of $215.00.

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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