Glenmede Trust Co. NA Sells 959 Shares of Waste Connections, Inc. (NYSE:WCN)

Glenmede Trust Co. NA lessened its stake in Waste Connections, Inc. (NYSE:WCN) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,126 shares of the business services provider’s stock after selling 959 shares during the period. Glenmede Trust Co. NA’s holdings in Waste Connections were worth $1,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC bought a new position in shares of Waste Connections in the 3rd quarter worth $36,000. Asset Dedication LLC purchased a new position in Waste Connections in the third quarter valued at about $41,000. Signature Resources Capital Management LLC bought a new position in Waste Connections in the second quarter worth about $45,000. Kennebec Savings Bank purchased a new stake in shares of Waste Connections during the third quarter valued at about $47,000. Finally, Carolinas Wealth Consulting LLC boosted its holdings in shares of Waste Connections by 3,885.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock valued at $49,000 after buying an additional 272 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Down 0.4 %

Shares of NYSE:WCN opened at $192.47 on Monday. Waste Connections, Inc. has a 1-year low of $132.65 and a 1-year 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. The stock has a market cap of $49.67 billion, a P/E ratio of 52.88, a P/E/G ratio of 3.21 and a beta of 0.72. The firm has a fifty day moving average price of $182.31 and a 200 day moving average price of $178.68.

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

Waste Connections Increases Dividend

The firm 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. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.26 annualized dividend and a yield of 0.65%. Waste Connections’s dividend payout ratio is presently 34.62%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WCN. Eight Capital raised Waste Connections to a “hold” rating in a research report on Wednesday, October 9th. Citigroup increased their price target on Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Oppenheimer raised their price target on Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. BMO Capital Markets cut their price objective on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $205.00 target price (up from $200.00) on shares of Waste Connections in a research note 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 stock. According to MarketBeat.com, Waste Connections currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.56.

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.