Fmr LLC Boosts Stake in Waste Connections, Inc. (NYSE:WCN)

Fmr LLC increased its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,313,725 shares of the business services provider’s stock after buying an additional 30,890 shares during the quarter. Fmr LLC’s holdings in Waste Connections were worth $950,055,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. American Trust boosted its holdings in Waste Connections by 3.7% in the second quarter. American Trust now owns 1,573 shares of the business services provider’s stock valued at $276,000 after purchasing an additional 56 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Waste Connections by 15.0% in the third quarter. GAMMA Investing LLC now owns 529 shares of the business services provider’s stock worth $95,000 after buying an additional 69 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Waste Connections by 8.8% during the second quarter. First Horizon Advisors Inc. now owns 916 shares of the business services provider’s stock worth $161,000 after acquiring an additional 74 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Waste Connections by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,966 shares of the business services provider’s stock valued at $1,047,000 after acquiring an additional 82 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in Waste Connections by 6.3% in the third quarter. Kingsview Wealth Management LLC now owns 1,515 shares of the business services provider’s stock valued at $271,000 after acquiring an additional 90 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $193.18 on Thursday. 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 $132.15 and a 1 year high of $194.83. The firm has a market capitalization of $49.85 billion, a PE ratio of 53.07, a P/E/G ratio of 3.22 and a beta of 0.72. The business’s 50 day moving average price is $181.76 and its 200-day moving average price is $178.21.

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

Waste Connections Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.65%. The ex-dividend date was Thursday, November 7th. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio is currently 34.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Citigroup raised their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Raymond James dropped their price target on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada upped their price objective on shares of Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Scotiabank began coverage on 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. Finally, BMO Capital Markets cut their price target on Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.56.

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.