Wilmington Savings Fund Society FSB Makes New Investment in Waste Connections, Inc. (NYSE:WCN)

Wilmington Savings Fund Society FSB bought a new stake in Waste Connections, Inc. (NYSE:WCN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,054 shares of the business services provider’s stock, valued at approximately $188,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Global Trust Asset Management LLC acquired a new stake in shares of Waste Connections in the 3rd quarter worth about $36,000. FSA Wealth Management LLC bought a new position in Waste Connections in the 3rd quarter worth about $40,000. Asset Dedication LLC bought a new position in Waste Connections in the 3rd quarter worth about $41,000. Continuum Advisory LLC increased its stake 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 purchasing an additional 83 shares during the period. Finally, Kennebec Savings Bank bought a new stake in shares of Waste Connections during the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Down 0.9 %

Shares of Waste Connections stock opened at $174.66 on Thursday. 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 $145.35 and a 12-month high of $194.83. The firm has a market capitalization of $45.07 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74. The stock’s fifty day moving average is $183.93 and its 200-day moving average is $180.43.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data 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. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Equities analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.315 dividend. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.72%. Waste Connections’s dividend payout ratio (DPR) is currently 34.62%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WCN. Morgan Stanley increased their price objective on Waste Connections from $206.00 to $214.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Scotiabank started coverage on Waste Connections in a research note on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price target for the company. CIBC lifted their price objective on shares of Waste Connections from $199.00 to $215.00 and gave the company an “outperformer” rating in a research note on Wednesday, December 4th. Citigroup upped their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Eight Capital raised shares of Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.88.

About Waste Connections

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.