Waste Connections, Inc. (NYSE:WCN) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank reduced its stake in Waste Connections, Inc. by 2.1%, owning 165,900 shares valued at approximately $32.3 million as of the latest report.
• Several hedge funds increased their holdings in Waste Connections, with DAVENPORT & Co LLC leading with a 37.3% increase during the first quarter.
• Analysts have a consensus rating of "Buy" for Waste Connections, with an average price target of $215.62, reflecting strong growth potential.

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,900 shares of the business services provider's stock after selling 3,550 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Waste Connections worth $32,332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its stake in shares of Waste Connections by 4.6% in the first quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider's stock worth $249,000 after buying an additional 56 shares in the last quarter. Tranquility Partners LLC increased its holdings in Waste Connections by 1.4% during the first quarter. Tranquility Partners LLC now owns 4,354 shares of the business services provider's stock valued at $850,000 after buying an additional 58 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Waste Connections by 29.2% during the first quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock valued at $55,000 after buying an additional 64 shares during the last quarter. Oarsman Capital Inc. increased its holdings in Waste Connections by 41.4% during 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 last quarter. Finally, AdvisorNet Financial Inc increased its stake in shares of Waste Connections by 28.9% in the first quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider's stock worth $57,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

NYSE:WCN traded down $1.03 during trading hours on Thursday, hitting $188.16. 585,342 shares of the company were exchanged, compared to its average volume of 1,141,807. The stock has a market capitalization of $48.62 billion, a price-to-earnings ratio of 75.90, a PEG ratio of 3.46 and a beta of 0.60. Waste Connections, Inc. has a 52-week low of $169.36 and a 52-week high of $201.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. The company's 50 day moving average price is $187.70 and its 200-day moving average price is $188.85.

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

Waste Connections Dividend Announcement

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 dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.67%. The ex-dividend date is Wednesday, August 6th. Waste Connections's payout ratio is 50.81%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WCN shares. Melius began coverage on shares of Waste Connections in a research note on Monday, June 9th. They issued a "buy" rating for the company. Melius Research upgraded shares of 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. BMO Capital Markets raised their target price on shares of Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Seaport Res Ptn raised shares of Waste Connections to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Atb Cap Markets raised shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Four 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 data from MarketBeat, Waste Connections presently has an average rating of "Buy" and a consensus target price of $215.00.

About Waste Connections

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.