Franklin Resources Inc. Cuts Position in Waste Connections, Inc. (NYSE:WCN)

Franklin Resources Inc. lowered its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 18.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 997,593 shares of the business services provider’s stock after selling 225,991 shares during the quarter. Franklin Resources Inc.’s holdings in Waste Connections were worth $171,132,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC purchased a new position in shares of Waste Connections during the 4th quarter valued at approximately $26,000. Private Trust Co. NA increased its holdings in Waste Connections by 153.3% in the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after acquiring an additional 92 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Waste Connections during the fourth quarter worth $27,000. Smartleaf Asset Management LLC lifted its holdings in Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in Waste Connections during the fourth quarter valued at $39,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Trading Up 0.7 %

NYSE WCN opened at $196.50 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $50.77 billion, a P/E ratio of 82.22, a PEG ratio of 3.07 and a beta of 0.81. The firm’s 50-day moving average is $187.82 and its two-hundred day moving average is $183.03. Waste Connections, Inc. has a 12 month low of $160.34 and a 12 month high of $197.74.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. On average, sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a dividend of $0.315 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.26 annualized dividend and a dividend yield of 0.64%. Waste Connections’s dividend payout ratio is currently 52.72%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Morgan Stanley increased their target price on Waste Connections from $214.00 to $219.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Scotiabank lowered their price target on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a research note on Monday, January 27th. CIBC reduced their price objective on Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Jefferies Financial Group lowered their target price on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and a consensus price target of $202.43.

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.