Waratah Capital Advisors Ltd. Boosts Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Waratah Capital Advisors Ltd. boosted its stake in shares of Waste Connections, Inc. (NYSE:WCNGet Rating) by 12.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 274,020 shares of the business services provider’s stock after buying an additional 31,059 shares during the period. Waste Connections comprises 0.5% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 23rd biggest position. Waratah Capital Advisors Ltd.’s holdings in Waste Connections were worth $38,313,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Lake Street Financial LLC purchased a new position in Waste Connections during the first quarter valued at $999,000. Brown Advisory Inc. lifted its position in Waste Connections by 0.4% during the first quarter. Brown Advisory Inc. now owns 1,633,789 shares of the business services provider’s stock valued at $228,065,000 after purchasing an additional 6,885 shares during the last quarter. Altman Advisors Inc. lifted its position in Waste Connections by 0.4% during the first quarter. Altman Advisors Inc. now owns 22,051 shares of the business services provider’s stock valued at $3,081,000 after purchasing an additional 91 shares during the last quarter. M&T Bank Corp lifted its position in Waste Connections by 5.4% during the first quarter. M&T Bank Corp now owns 8,502 shares of the business services provider’s stock valued at $1,188,000 after purchasing an additional 436 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Waste Connections by 41.1% during the first quarter. Quadrant Capital Group LLC now owns 717 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 209 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

NYSE:WCN traded down $0.96 during trading hours on Friday, hitting $138.33. 789,585 shares of the company were exchanged, compared to its average volume of 803,713. The stock has a market capitalization of $35.57 billion, a price-to-earnings ratio of 52.40, a PEG ratio of 3.02 and a beta of 0.72. Waste Connections, Inc. has a 52-week low of $113.50 and a 52-week high of $145.62. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.94 and a quick ratio of 1.12. The company’s 50 day moving average price is $125.48 and its 200-day moving average price is $128.63.

Waste Connections (NYSE:WCNGet Rating) last released its earnings results on Tuesday, May 3rd. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Waste Connections had a return on equity of 13.38% and a net margin of 10.25%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. As a group, research analysts forecast that Waste Connections, Inc. will post 3.7 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.67%. The ex-dividend date is Wednesday, August 17th. Waste Connections’s payout ratio is 34.85%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Raymond James increased their price objective on shares of Waste Connections from $146.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Friday. Royal Bank of Canada raised their target price on shares of Waste Connections from $147.00 to $152.00 and gave the stock an “outperform” rating in a report on Thursday. Atb Cap Markets upgraded shares of Waste Connections from a “sector perform” rating to an “outperform” rating in a report on Thursday. BMO Capital Markets raised their target price on shares of Waste Connections from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Morgan Stanley raised their target price on shares of Waste Connections from $146.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $147.13.

Waste Connections Company Profile

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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.

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

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