Legacy Capital Group California Inc. Boosts Holdings in Waste Connections, Inc. (NYSE:WCN)

Legacy Capital Group California Inc. boosted its position in Waste Connections, Inc. (NYSE:WCN) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,981 shares of the business services provider’s stock after purchasing an additional 106 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Waste Connections were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. AE Wealth Management LLC raised its position in shares of Waste Connections by 7.4% during the 2nd quarter. AE Wealth Management LLC now owns 9,126 shares of the business services provider’s stock valued at $1,304,000 after buying an additional 629 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Waste Connections by 23.9% during the 1st quarter. Bessemer Group Inc. now owns 16,185 shares of the business services provider’s stock valued at $2,250,000 after buying an additional 3,120 shares in the last quarter. HBK Investments L P purchased a new stake in shares of Waste Connections during the 1st quarter valued at $958,000. Robeco Institutional Asset Management B.V. raised its position in shares of Waste Connections by 9.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 191,602 shares of the business services provider’s stock valued at $26,646,000 after buying an additional 15,885 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Waste Connections by 23.1% during the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 11,890 shares of the business services provider’s stock valued at $1,654,000 after buying an additional 2,232 shares in the last quarter. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Down 0.1 %

Waste Connections stock traded down $0.17 during trading hours on Friday, hitting $134.84. The stock had a trading volume of 1,806,474 shares, compared to its average volume of 927,170. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $34.74 billion, a P/E ratio of 41.87, a price-to-earnings-growth ratio of 3.11 and a beta of 0.67. Waste Connections, Inc. has a 12-month low of $125.83 and a 12-month high of $146.12. The stock’s 50-day moving average price is $135.57 and its 200-day moving average price is $138.14.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, October 25th. The business services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.03. Waste Connections had a net margin of 10.57% and a return on equity of 13.95%. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Waste Connections, Inc. will post 4.16 EPS for the current fiscal year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 8th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 0.85%. This is a boost from Waste Connections’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, November 7th. Waste Connections’s payout ratio is presently 35.40%.

Analyst Upgrades and Downgrades

WCN has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and set a $168.00 price objective on shares of Waste Connections in a research report on Monday, October 2nd. Scotiabank decreased their target price on shares of Waste Connections from $155.00 to $145.00 in a research report on Tuesday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $164.00 target price on shares of Waste Connections in a research report on Monday, October 30th. CIBC raised their price target on shares of Waste Connections from $155.00 to $156.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, StockNews.com initiated coverage on shares of Waste Connections in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Three 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 company’s stock. According to data from MarketBeat.com, Waste Connections has a consensus rating of “Moderate Buy” and a consensus price target of $159.07.

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.