Kimelman & Baird LLC Has $18.49 Million Stake in Waste Connections Inc (NYSE:WCN)

Kimelman & Baird LLC trimmed its holdings in shares of Waste Connections Inc (NYSE:WCN) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,996 shares of the business services provider’s stock after selling 4,412 shares during the period. Waste Connections accounts for approximately 2.6% of Kimelman & Baird LLC’s holdings, making the stock its 17th largest holding. Kimelman & Baird LLC owned approximately 0.08% of Waste Connections worth $18,492,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WCN. First Trust Advisors LP acquired a new stake in Waste Connections during the 1st quarter valued at $482,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Waste Connections in the 2nd quarter valued at $39,000. SG Americas Securities LLC increased its stake in shares of Waste Connections by 67.5% in the 2nd quarter. SG Americas Securities LLC now owns 39,608 shares of the business services provider’s stock valued at $3,786,000 after buying an additional 15,956 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Waste Connections by 11.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 24,613 shares of the business services provider’s stock valued at $2,353,000 after buying an additional 2,503 shares during the period. Finally, Pegasus Partners Ltd. acquired a new stake in shares of Waste Connections in the 2nd quarter valued at $593,000. 83.05% of the stock is owned by hedge funds and other institutional investors.

Shares of Waste Connections stock traded down $0.17 during trading on Tuesday, reaching $90.22. 37,191 shares of the company were exchanged, compared to its average volume of 1,172,551. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. Waste Connections Inc has a twelve month low of $70.28 and a twelve month high of $97.93. The business has a 50-day moving average price of $90.65 and a 200-day moving average price of $92.39. The firm has a market capitalization of $23.88 billion, a price-to-earnings ratio of 35.79, a P/E/G ratio of 3.93 and a beta of 0.14.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Waste Connections had a return on equity of 10.62% and a net margin of 10.70%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Waste Connections Inc will post 2.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, November 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.62%. Waste Connections’s dividend payout ratio (DPR) is presently 29.37%.

In related news, VP David Eddie sold 934 shares of Waste Connections stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $90.55, for a total transaction of $84,573.70. Following the completion of the sale, the vice president now directly owns 41,023 shares of the company’s stock, valued at $3,714,632.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by insiders.

Several research firms have recently commented on WCN. Raymond James lifted their target price on Waste Connections from $106.00 to $108.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group began coverage on Waste Connections in a research note on Wednesday, November 27th. They issued a “buy” rating and a $106.00 target price for the company. ValuEngine cut Waste Connections from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Macquarie began coverage on Waste Connections in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $100.00 target price for the company. Finally, Stifel Nicolaus set a $105.00 target price on Waste Connections and gave the company a “buy” rating in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $98.52.

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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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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