Waste Connections, Inc. (NYSE:WCN) Shares Bought by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Waste Connections, Inc. by 1.0%, owning approximately 3.28 million shares valued at $640.56 million as of the latest SEC filing.
• Institutional investors control 86.09% of Waste Connections' stock, with several firms significantly increasing their holdings in the first quarter.
• The company reported a quarterly earnings per share (EPS) of $1.29, surpassing analysts' estimates, while also declaring a quarterly dividend of $0.315 per share to be paid on August 21st.

JPMorgan Chase & Co. raised its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,281,741 shares of the business services provider's stock after purchasing an additional 31,805 shares during the quarter. JPMorgan Chase & Co. owned about 1.27% of Waste Connections worth $640,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in WCN. Ramirez Asset Management Inc. raised its holdings in Waste Connections by 122.0% during the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Larson Financial Group LLC raised its holdings in Waste Connections by 994.4% during the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock worth $38,000 after purchasing an additional 179 shares in the last quarter. Global Financial Private Client LLC raised its holdings in Waste Connections by 890.0% during the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock worth $39,000 after purchasing an additional 178 shares in the last quarter. Valley National Advisers Inc. raised its holdings in Waste Connections by 232.3% during the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock worth $41,000 after purchasing an additional 151 shares in the last quarter. Finally, Louisbourg Investments Inc. raised its holdings in Waste Connections by 128.6% during the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock worth $47,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on WCN. Citigroup dropped their price target on Waste Connections from $208.00 to $204.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Raymond James Financial dropped 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. JPMorgan Chase & Co. upped their price target on Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Atb Cap Markets raised Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets upped their price target on Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $215.00.

Waste Connections Trading Up 0.0%

NYSE WCN opened at $188.15 on Monday. The firm's 50 day moving average price is $186.51 and its two-hundred day moving average price is $189.47. The stock has a market cap of $48.62 billion, a price-to-earnings ratio of 75.87, a PEG ratio of 3.39 and a beta of 0.58. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67.

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

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th will be paid a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.7%. Waste Connections's dividend payout ratio (DPR) is 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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