Zurcher Kantonalbank Zurich Cantonalbank Cuts Position in Waste Connections, Inc. (NYSE:WCN)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Waste Connections, Inc. (NYSE:WCN) by 17.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 136,529 shares of the business services provider’s stock after selling 29,532 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Waste Connections worth $20,487,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Mackenzie Financial Corp raised its holdings in Waste Connections by 57.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock valued at $522,988,000 after buying an additional 1,281,418 shares during the period. Carnegie Capital Asset Management LLC purchased a new position in Waste Connections in the fourth quarter valued at approximately $452,000. Simplicity Solutions LLC raised its holdings in Waste Connections by 114.2% in the fourth quarter. Simplicity Solutions LLC now owns 9,205 shares of the business services provider’s stock valued at $1,374,000 after buying an additional 4,907 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Waste Connections during the fourth quarter valued at approximately $208,000. Finally, NewEdge Wealth LLC purchased a new stake in shares of Waste Connections during the fourth quarter valued at approximately $324,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Waste Connections stock opened at $164.72 on Thursday. The company has a market cap of $42.50 billion, a PE ratio of 55.65, a P/E/G ratio of 2.70 and a beta of 0.66. The company has a fifty day moving average price of $167.51 and a two-hundred day moving average price of $150.73. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68. Waste Connections, Inc. has a 12 month low of $126.12 and a 12 month high of $173.02.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Tuesday, February 13th. The business services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. Waste Connections had a net margin of 9.51% and a return on equity of 14.42%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. Research analysts expect that Waste Connections, Inc. will post 4.85 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 28th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Tuesday, February 27th. Waste Connections’s payout ratio is 38.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WCN shares. StockNews.com upgraded shares of Waste Connections from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Wells Fargo & Company lifted their price objective on shares of Waste Connections from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their price objective on shares of Waste Connections from $153.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Atb Cap Markets lowered shares of Waste Connections from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. Finally, Jefferies Financial Group lifted their price objective on shares of Waste Connections from $195.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Waste Connections has a consensus rating of “Moderate Buy” and a consensus price target of $178.87.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, Director Andrea E. Bertone sold 902 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total value of $152,591.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by company insiders.

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.