Traynor Capital Management Inc. Has $283,000 Holdings in Waste Connections, Inc. (NYSE:WCN)

Traynor Capital Management Inc. lifted its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,895 shares of the business services provider’s stock after purchasing an additional 85 shares during the period. Traynor Capital Management Inc.’s holdings in Waste Connections were worth $283,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of WCN. Norges Bank acquired a new position in shares of Waste Connections during the fourth quarter worth $602,107,000. Royal Bank of Canada lifted its holdings in shares of Waste Connections by 20.5% during the third quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock worth $1,516,908,000 after purchasing an additional 1,920,302 shares during the period. WCM Investment Management LLC lifted its holdings in shares of Waste Connections by 12.8% during the third quarter. WCM Investment Management LLC now owns 10,218,545 shares of the business services provider’s stock worth $1,378,788,000 after purchasing an additional 1,157,470 shares during the period. Montrusco Bolton Investments Inc. lifted its holdings in shares of Waste Connections by 35.0% during the third quarter. Montrusco Bolton Investments Inc. now owns 2,436,123 shares of the business services provider’s stock worth $319,336,000 after purchasing an additional 631,724 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Waste Connections by 69.1% during the fourth quarter. Morgan Stanley now owns 1,490,958 shares of the business services provider’s stock worth $197,642,000 after purchasing an additional 609,251 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Insider Activity

In related news, Director Andrea E. Bertone sold 902 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $169.17, for a total transaction of $152,591.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WCN shares. Royal Bank of Canada lifted their target price on shares of Waste Connections from $169.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Atb Cap Markets downgraded shares of Waste Connections from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. Morgan Stanley lifted their target price on shares of Waste Connections from $171.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, December 4th. Citigroup lifted their target price on shares of Waste Connections from $136.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Finally, UBS Group downgraded shares of Waste Connections from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $170.00 to $181.00 in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.82.

Waste Connections Stock Up 0.2 %

Shares of NYSE WCN traded up $0.32 during mid-day trading on Friday, reaching $172.01. 473,751 shares of the company’s stock traded hands, compared to its average volume of 788,088. The stock has a market cap of $44.38 billion, a P/E ratio of 58.11, a PEG ratio of 2.82 and a beta of 0.66. The business has a 50-day simple moving average of $163.51 and a 200 day simple moving average of $147.68. Waste Connections, Inc. has a 1-year low of $126.12 and a 1-year high of $173.02. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.68 and a quick ratio of 0.68.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Tuesday, February 13th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.03. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Waste Connections had a net margin of 9.51% and a return on equity of 14.42%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $0.89 earnings per share. On average, analysts expect that Waste Connections, Inc. will post 4.85 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Tuesday, February 27th. Waste Connections’s dividend payout ratio is currently 38.51%.

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.