Waste Connections, Inc. (NYSE:WCN) Shares Acquired by National Pension Service

Key Points

• The National Pension Service increased its stake in Waste Connections, Inc. by 9.6%, owning approximately $125 million worth of shares after acquiring an additional 56,152 shares.
• Waste Connections reported an earnings per share (EPS) of $1.29 for the last quarter, surpassing analysts' expectations by $0.04 and showing a 7.1% year-over-year revenue increase.
• The company recently announced a quarterly dividend of $0.315, with an annualized dividend yield of 0.7%, reflecting a dividend payout ratio (DPR) of 50.81%.

National Pension Service grew its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 640,779 shares of the business services provider's stock after purchasing an additional 56,152 shares during the period. National Pension Service owned about 0.25% of Waste Connections worth $125,074,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WCN. Ramirez Asset Management Inc. raised its holdings in Waste Connections by 122.0% in 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 during the period. Larson Financial Group LLC raised its holdings in shares of 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 acquiring an additional 179 shares during the period. Global Financial Private Client LLC raised its holdings in shares of 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 acquiring an additional 178 shares during the period. Valley National Advisers Inc. raised its holdings in shares of 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 acquiring an additional 151 shares during the period. Finally, Louisbourg Investments Inc. raised its holdings in shares of 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 acquiring an additional 135 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Performance

Shares of WCN traded up $0.05 during midday trading on Friday, reaching $184.78. The stock had a trading volume of 904,236 shares, compared to its average volume of 1,228,545. The firm has a 50 day simple moving average of $185.91 and a 200-day simple moving average of $189.55. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66. The firm has a market cap of $47.75 billion, a PE ratio of 74.51, a P/E/G ratio of 3.33 and a beta of 0.58. 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 (NYSE:WCN - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. Waste Connections's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 EPS. As a group, sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on WCN. Seaport Res Ptn upgraded shares of Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. Raymond James Financial dropped their price objective on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a report on Tuesday, July 22nd. Melius began coverage on shares of Waste Connections in a report on Monday, June 9th. They set a "buy" rating on the stock. Royal Bank Of Canada dropped their price objective on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Finally, CIBC reaffirmed an "outperform" rating on shares of Waste Connections in a research report on Friday, July 25th. Four equities research 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 MarketBeat.com, the company presently has an average rating of "Buy" and an average 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.