Handelsbanken Fonder AB Sells 2,081 Shares of Waste Connections, Inc. (NYSE:WCN)

Handelsbanken Fonder AB decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 44.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,650 shares of the business services provider's stock after selling 2,081 shares during the quarter. Handelsbanken Fonder AB's holdings in Waste Connections were worth $517,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Oarsman Capital Inc. lifted its stake in Waste Connections by 41.4% in the fourth quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock valued at $38,000 after buying an additional 65 shares during the period. AdvisorNet Financial Inc raised its position in shares of Waste Connections by 28.9% in the 1st quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider's stock valued at $57,000 after acquiring an additional 65 shares during the period. Smartleaf Asset Management LLC boosted its stake in Waste Connections by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Integrated Advisors Network LLC grew its holdings in Waste Connections by 5.5% during the fourth quarter. Integrated Advisors Network LLC now owns 1,562 shares of the business services provider's stock valued at $268,000 after purchasing an additional 81 shares during the period. Finally, Continuum Advisory LLC increased its stake in Waste Connections by 36.3% in the fourth quarter. Continuum Advisory LLC now owns 308 shares of the business services provider's stock valued at $53,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Stock Down 0.4%

Shares of NYSE WCN traded down $0.79 during trading hours on Thursday, hitting $186.93. The company had a trading volume of 948,306 shares, compared to its average volume of 999,407. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm's 50 day moving average is $193.74 and its 200-day moving average is $187.46. The stock has a market capitalization of $48.30 billion, a P/E ratio of 76.93, a price-to-earnings-growth ratio of 3.25 and a beta of 0.62.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.06. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.22 billion. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 earnings per share. On average, analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Wednesday, May 7th. Waste Connections's payout ratio is currently 51.85%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Waste Connections from $209.00 to $212.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. National Bank Financial raised Waste Connections to a "strong-buy" rating in a research note on Monday, May 26th. JPMorgan Chase & Co. raised their price target on Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Melius Research upgraded Waste Connections to a "strong-buy" rating and set a $213.00 price objective for the company in a research report on Monday, June 9th. Finally, Scotiabank lifted their price target on shares of Waste Connections from $192.00 to $207.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 8th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $212.29.

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.