Point72 Asset Management L.P. Has $15.09 Million Position in Waste Connections, Inc. (NYSE:WCN)

Point72 Asset Management L.P. lessened its stake in Waste Connections, Inc. (NYSE:WCN) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,370 shares of the business services provider’s stock after selling 852 shares during the period. Point72 Asset Management L.P.’s holdings in Waste Connections were worth $15,087,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WCN. Global Trust Asset Management LLC bought a new stake in shares of Waste Connections during the third quarter worth $36,000. FSA Wealth Management LLC bought a new stake in Waste Connections during the 3rd quarter worth about $40,000. Asset Dedication LLC acquired a new position in Waste Connections during the 3rd quarter valued at about $41,000. Signature Resources Capital Management LLC bought a new position in shares of Waste Connections in the 2nd quarter valued at about $45,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Waste Connections during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Trading Up 0.0 %

Shares of NYSE:WCN opened at $190.35 on Friday. The firm has a market cap of $49.12 billion, a price-to-earnings ratio of 52.29, a PEG ratio of 3.20 and a beta of 0.74. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Waste Connections, Inc. has a 12 month low of $137.25 and a 12 month high of $194.83. The company’s fifty day simple moving average is $183.21 and its 200 day simple moving average is $179.18.

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

Waste Connections Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.315 per share. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is currently 34.62%.

Analysts Set New Price Targets

WCN has been the topic of several analyst reports. Citigroup increased their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. BMO Capital Markets cut their price target on Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. CIBC increased their target price on Waste Connections from $199.00 to $215.00 and gave the company an “outperformer” rating in a research note on Wednesday. Finally, Eight Capital upgraded Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $198.40.

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.