Lincoln National Corp Boosts Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Lincoln National Corp increased its position in shares of Waste Connections, Inc. (NYSE:WCNFree Report) by 11.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,049 shares of the business services provider’s stock after buying an additional 320 shares during the quarter. Lincoln National Corp’s holdings in Waste Connections were worth $455,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Waste Connections by 20.5% during the 3rd quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock worth $1,516,908,000 after acquiring an additional 1,920,302 shares in the last quarter. Mackenzie Financial Corp boosted its position in Waste Connections by 57.7% during the fourth quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock worth $522,988,000 after purchasing an additional 1,281,418 shares in the last quarter. Wellington Management Group LLP grew its holdings in Waste Connections by 0.8% in the third quarter. Wellington Management Group LLP now owns 3,043,138 shares of the business services provider’s stock valued at $408,695,000 after purchasing an additional 23,801 shares during the period. JPMorgan Chase & Co. increased its position in shares of Waste Connections by 8.5% in the third quarter. JPMorgan Chase & Co. now owns 3,010,159 shares of the business services provider’s stock valued at $404,264,000 after buying an additional 236,518 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Waste Connections by 6.0% during the 4th quarter. National Bank of Canada FI now owns 2,582,393 shares of the business services provider’s stock worth $383,189,000 after buying an additional 147,271 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Trading Up 0.7 %

Shares of WCN stock opened at $167.38 on Friday. Waste Connections, Inc. has a 1-year low of $126.12 and a 1-year high of $173.02. The firm has a market cap of $43.19 billion, a PE ratio of 54.34, a price-to-earnings-growth ratio of 2.70 and a beta of 0.67. The company has a 50-day moving average of $167.57 and a two-hundred day moving average of $153.99. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.75 and a quick ratio of 0.75.

Waste Connections (NYSE:WCNGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the company posted $0.89 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Waste Connections, Inc. will post 4.81 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.68%. Waste Connections’s payout ratio is presently 37.01%.

Analyst Ratings Changes

A number of research firms recently issued reports on WCN. Stifel Nicolaus lifted their price target on shares of Waste Connections from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. UBS Group cut shares of Waste Connections from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $170.00 to $181.00 in a research note on Thursday, February 29th. Scotiabank raised their price target on shares of Waste Connections from $146.50 to $179.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Wells Fargo & Company raised their target price on Waste Connections from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada lowered their price target on shares of Waste Connections from $196.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $179.33.

Get Our Latest Stock Analysis on Waste Connections

Insider Activity at Waste Connections

In other Waste Connections news, Director Andrea E. Bertone sold 902 shares of Waste Connections stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total value of $152,591.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.31% of the company’s stock.

About Waste Connections

(Free Report)

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.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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