Wolverine Trading LLC Reduces Holdings in Waste Connections, Inc. (NYSE:WCN)

Wolverine Trading LLC reduced its stake in Waste Connections, Inc. (NYSE:WCN) by 80.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,213 shares of the business services provider’s stock after selling 5,122 shares during the quarter. Wolverine Trading LLC’s holdings in Waste Connections were worth $215,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Global Trust Asset Management LLC acquired a new stake in shares of Waste Connections during the third quarter worth $36,000. FSA Wealth Management LLC purchased a new position in Waste Connections in the 3rd quarter worth $40,000. Asset Dedication LLC purchased a new position in Waste Connections in the 3rd quarter worth $41,000. Kennebec Savings Bank acquired a new stake in Waste Connections during the 3rd quarter worth about $47,000. Finally, Carolinas Wealth Consulting LLC grew its stake in Waste Connections by 3,885.7% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

Waste Connections stock opened at $179.95 on Monday. 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 company’s fifty day moving average price is $184.12 and its 200 day moving average price is $180.27. The stock has a market capitalization of $46.44 billion, a P/E ratio of 49.44, a P/E/G ratio of 3.08 and a beta of 0.74. Waste Connections, Inc. has a 1 year low of $144.69 and a 1 year high of $194.83.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) 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 business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business earned $1.17 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate 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. Shareholders of record on Thursday, November 7th were issued 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 0.70%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio is presently 34.62%.

Analyst Upgrades and Downgrades

WCN has been the subject of several research analyst reports. CIBC lifted their target price on Waste Connections from $199.00 to $215.00 and gave the stock an “outperformer” rating in a report on Wednesday, December 4th. Oppenheimer lifted their price objective on shares of Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday. Scotiabank started coverage on shares of Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research report 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 note on Friday, October 25th. Five 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $199.88.

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.