First Allied Advisory Services Inc. grew its holdings in shares of Waste Connections Inc (NYSE:WCN) by 7.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,867 shares of the business services provider’s stock after purchasing an additional 353 shares during the period. First Allied Advisory Services Inc.’s holdings in Waste Connections were worth $433,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Vanguard Group Inc raised its holdings in Waste Connections by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 23,765,851 shares of the business services provider’s stock valued at $1,895,802,000 after buying an additional 117,287 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Waste Connections by 1.2% in the 1st quarter. Bank of Montreal Can now owns 8,258,481 shares of the business services provider’s stock valued at $731,618,000 after buying an additional 94,554 shares during the period. Lunia Capital LP acquired a new position in shares of Waste Connections in the 4th quarter valued at $7,205,000. Norges Bank acquired a new position in shares of Waste Connections in the 4th quarter valued at $378,868,000. Finally, Findlay Park Partners LLP grew its holdings in shares of Waste Connections by 10.9% in the 4th quarter. Findlay Park Partners LLP now owns 4,138,563 shares of the business services provider’s stock valued at $307,288,000 after buying an additional 405,209 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.
Several analysts recently commented on WCN shares. Zacks Investment Research downgraded shares of Waste Connections from a “hold” rating to a “sell” rating in a research report on Saturday, April 27th. AltaCorp Capital lowered Waste Connections from an “outperform” rating to a “sector perform” rating in a research note on Thursday, April 25th. Royal Bank of Canada increased their target price on Waste Connections from $90.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. TD Securities increased their target price on Waste Connections from $88.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Raymond James increased their target price on Waste Connections from $102.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $95.40.
WCN traded up $0.84 on Friday, reaching $94.46. The company had a trading volume of 457,500 shares, compared to its average volume of 800,886. Waste Connections Inc has a fifty-two week low of $70.28 and a fifty-two week high of $95.80. The firm has a market cap of $24.76 billion, a P/E ratio of 37.48, a price-to-earnings-growth ratio of 2.73 and a beta of 0.23. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.47 and a current ratio of 1.47.
Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Waste Connections had a net margin of 10.89% and a return on equity of 10.58%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business earned $0.56 EPS. Waste Connections’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities analysts forecast that Waste Connections Inc will post 2.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.68%. Waste Connections’s payout ratio is presently 25.40%.
About Waste Connections
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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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