Douglas Lane & Associates LLC Grows Position in Waste Connections, Inc. $WCN

Douglas Lane & Associates LLC grew its position in shares of Waste Connections, Inc. (NYSE:WCN) by 38.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,289 shares of the business services provider’s stock after acquiring an additional 59,457 shares during the quarter. Douglas Lane & Associates LLC owned 0.08% of Waste Connections worth $37,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WCN. Vanguard Group Inc. lifted its position in shares of Waste Connections by 2.1% during the second quarter. Vanguard Group Inc. now owns 30,867,844 shares of the business services provider’s stock valued at $5,764,546,000 after purchasing an additional 620,600 shares in the last quarter. WCM Investment Management LLC increased its stake in Waste Connections by 1.8% in the 2nd quarter. WCM Investment Management LLC now owns 6,501,719 shares of the business services provider’s stock valued at $1,208,669,000 after buying an additional 117,939 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Waste Connections by 14.0% during the 2nd quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider’s stock worth $975,190,000 after buying an additional 642,426 shares in the last quarter. Norges Bank purchased a new position in shares of Waste Connections in the 2nd quarter worth approximately $755,938,000. Finally, 1832 Asset Management L.P. grew its holdings in shares of Waste Connections by 3.4% in the second quarter. 1832 Asset Management L.P. now owns 3,995,575 shares of the business services provider’s stock valued at $746,054,000 after acquiring an additional 132,455 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

NYSE WCN opened at $175.12 on Friday. The firm has a market cap of $44.78 billion, a P/E ratio of 72.97, a price-to-earnings-growth ratio of 3.47 and a beta of 0.62. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average is $172.13 and its 200-day moving average is $178.92. Waste Connections, Inc. has a 12-month low of $163.27 and a 12-month high of $201.66.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the business earned $1.35 EPS. Waste Connections’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, November 5th. Waste Connections’s dividend payout ratio (DPR) is presently 58.33%.

Insider Transactions at Waste Connections

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total value of $1,569,960.00. Following the completion of the transaction, the director owned 14,883 shares in the company, valued at $2,596,190.52. This trade represents a 37.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Raymond James Financial set a $213.00 price target on Waste Connections and gave the stock a “strong-buy” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a research note on Wednesday, October 8th. Oppenheimer increased their price target on shares of Waste Connections from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Wells Fargo & Company began coverage on shares of Waste Connections in a research report on Thursday, November 13th. They issued an “overweight” rating and a $186.00 price objective on the stock. Finally, Sanford C. Bernstein began coverage on shares of Waste Connections in a research note on Wednesday, November 12th. They issued an “outperform” rating and a $200.00 target price on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $208.37.

Waste Connections Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.