Citigroup Inc. Increases Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Citigroup Inc. boosted its position in shares of Waste Connections, Inc. (NYSE:WCN) by 10.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,896 shares of the business services provider’s stock after purchasing an additional 12,187 shares during the period. Citigroup Inc.’s holdings in Waste Connections were worth $22,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Global Trust Asset Management LLC purchased a new stake in shares of Waste Connections during the 3rd quarter valued at approximately $36,000. Asset Dedication LLC purchased a new stake in Waste Connections in the third quarter valued at $41,000. Pathway Financial Advisers LLC acquired a new position in shares of Waste Connections in the 1st quarter valued at $43,000. Signature Resources Capital Management LLC purchased a new position in shares of Waste Connections during the 2nd quarter worth $45,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Waste Connections during the 3rd quarter worth about $47,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Performance

Shares of WCN opened at $193.25 on Wednesday. Waste Connections, Inc. has a 1 year low of $132.15 and a 1 year high of $194.24. The stock has a market capitalization of $49.87 billion, a PE ratio of 53.09, a PEG ratio of 3.17 and a beta of 0.72. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50-day simple moving average of $181.46 and a 200-day simple moving average of $178.11.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the company earned $1.17 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. On average, analysts predict that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a dividend of $0.315 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is presently 34.62%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WCN shares. BMO Capital Markets decreased their target price on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Eight Capital upgraded shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their target price on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Oppenheimer upped their price target on Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Raymond James lowered their price target on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.56.

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.