M&T Bank Corp Reduces Holdings in Waste Connections, Inc. (NYSE:WCN)

M&T Bank Corp lessened its holdings in Waste Connections, Inc. (NYSE:WCN) by 7.6% during the 3rd quarter, Holdings Channel reports. The firm owned 33,369 shares of the business services provider’s stock after selling 2,748 shares during the quarter. M&T Bank Corp’s holdings in Waste Connections were worth $5,967,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WCN. Global Trust Asset Management LLC purchased a new stake in Waste Connections in the 3rd quarter valued at approximately $36,000. FSA Wealth Management LLC purchased a new position in Waste Connections during the third quarter worth $40,000. Asset Dedication LLC acquired a new position in shares of Waste Connections in the third quarter worth $41,000. Continuum Advisory LLC lifted its position in shares of Waste Connections by 58.0% in the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 83 shares in the last quarter. Finally, Signature Resources Capital Management LLC acquired a new stake in shares of Waste Connections during the second quarter valued at $45,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Performance

Waste Connections stock opened at $184.24 on Friday. The stock’s 50-day moving average is $183.92 and its 200-day moving average is $179.88. The company has a market cap of $47.55 billion, a price-to-earnings ratio of 50.62, a price-to-earnings-growth ratio of 3.18 and a beta of 0.74. Waste Connections, Inc. has a 12 month low of $144.69 and a 12 month high of $194.83. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the company posted $1.17 earnings per share. Waste Connections’s revenue was up 13.3% compared to the same quarter last year. Equities analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.315 dividend. The ex-dividend date was Thursday, November 7th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 0.68%. Waste Connections’s dividend payout ratio (DPR) is 34.62%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. CIBC boosted their target price on shares of Waste Connections from $199.00 to $215.00 and gave the company an “outperformer” rating in a research note on Wednesday, December 4th. Oppenheimer upped their price objective on shares of Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Morgan Stanley lifted their target price on shares of Waste Connections from $206.00 to $214.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Royal Bank of Canada lifted their price objective on Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $199.81.

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.