TCW Group Inc. Acquires 45,215 Shares of Waste Connections, Inc. (NYSE:WCN)

TCW Group Inc. raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 722,426 shares of the business services provider’s stock after purchasing an additional 45,215 shares during the quarter. Waste Connections accounts for approximately 1.1% of TCW Group Inc.’s investment portfolio, making the stock its 24th largest holding. TCW Group Inc.’s holdings in Waste Connections were worth $129,184,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC purchased a new position in Waste Connections during the 3rd quarter worth $36,000. FSA Wealth Management LLC bought a new position in shares of Waste Connections during the 3rd quarter worth $40,000. Asset Dedication LLC purchased a new position in shares of Waste Connections during the third quarter valued at $41,000. Continuum Advisory LLC raised its holdings in shares of Waste Connections by 58.0% in the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 83 shares in the last quarter. Finally, Signature Resources Capital Management LLC bought a new stake in shares of Waste Connections in the second quarter valued at about $45,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WCN has been the topic of a number of research reports. Scotiabank began coverage on shares of Waste Connections in a research report on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price on the stock. Eight Capital upgraded shares of Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada increased their target price on Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, CIBC lifted their price target on Waste Connections from $199.00 to $215.00 and gave the company an “outperformer” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.40.

Waste Connections Trading Down 0.3 %

Shares of NYSE:WCN opened at $185.79 on Wednesday. The business’s 50-day moving average is $183.62 and its 200 day moving average is $179.70. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77. Waste Connections, Inc. has a 1 year low of $137.25 and a 1 year high of $194.83. The firm has a market capitalization of $47.95 billion, a P/E ratio of 51.04, a P/E/G ratio of 3.18 and a beta of 0.74.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data 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. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 earnings per share. On average, research analysts predict that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.315 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio (DPR) is currently 34.62%.

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.