CLARET ASSET MANAGEMENT Corp grew its position in shares of Waste Connections Inc (NYSE:WCN) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,401 shares of the business services provider’s stock after purchasing an additional 247 shares during the quarter. CLARET ASSET MANAGEMENT Corp’s holdings in Waste Connections were worth $327,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in WCN. Advisors Asset Management Inc. raised its holdings in Waste Connections by 104.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,643 shares of the business services provider’s stock worth $350,000 after purchasing an additional 2,374 shares during the period. Bank of New York Mellon Corp raised its holdings in Waste Connections by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 337,685 shares of the business services provider’s stock worth $25,420,000 after purchasing an additional 2,539 shares during the period. Nisa Investment Advisors LLC bought a new position in Waste Connections in the 3rd quarter worth $204,000. Aperio Group LLC raised its holdings in Waste Connections by 20.7% in the 3rd quarter. Aperio Group LLC now owns 82,194 shares of the business services provider’s stock worth $6,557,000 after purchasing an additional 14,073 shares during the period. Finally, IFM Investors Pty Ltd raised its holdings in Waste Connections by 15.7% in the 3rd quarter. IFM Investors Pty Ltd now owns 13,918 shares of the business services provider’s stock worth $1,110,000 after purchasing an additional 1,889 shares during the period. 82.83% of the stock is owned by institutional investors.
A number of equities analysts recently commented on WCN shares. Zacks Investment Research cut Waste Connections from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Oppenheimer set a $87.00 price target on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, October 31st. BMO Capital Markets increased their price target on Waste Connections from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. UBS Group set a $90.00 price target on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada increased their price target on Waste Connections from $84.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 31st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $88.80.
Shares of WCN stock opened at $83.43 on Thursday. Waste Connections Inc has a 52-week low of $69.88 and a 52-week high of $85.06. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $21.80 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 2.77 and a beta of 0.30.
Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, February 13th. The business services provider reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. Waste Connections had a return on equity of 10.46% and a net margin of 11.11%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share. Analysts expect that Waste Connections Inc will post 2.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.77%. Waste Connections’s payout ratio is 25.40%.
Waste Connections Profile
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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