Drake & Associates LLC Has $2.34 Million Position in Waste Connections, Inc. $WCN

Drake & Associates LLC lifted its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 33.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,096 shares of the business services provider’s stock after purchasing an additional 3,542 shares during the period. Drake & Associates LLC’s holdings in Waste Connections were worth $2,339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Asset Dedication LLC bought a new stake in Waste Connections during the 2nd quarter worth about $28,000. Greykasell Wealth Strategies Inc. grew its stake in shares of Waste Connections by 555.2% during the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 161 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in shares of Waste Connections in the second quarter valued at approximately $39,000. Caldwell Trust Co bought a new position in Waste Connections in the 2nd quarter worth approximately $49,000. Finally, TD Private Client Wealth LLC raised its position in Waste Connections by 479.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock worth $59,000 after purchasing an additional 278 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on WCN. Citigroup reissued a “neutral” rating and issued a $183.00 target price (down from $196.00) on shares of Waste Connections in a research note on Friday, January 16th. UBS Group set a $205.00 price objective on Waste Connections in a research report on Monday, January 5th. Barclays restated a “negative” rating on shares of Waste Connections in a research report on Thursday, October 23rd. Morgan Stanley reiterated an “overweight” rating and set a $220.00 price target (up previously from $215.00) on shares of Waste Connections in a research report on Wednesday, December 17th. Finally, BNP Paribas Exane initiated coverage on shares of Waste Connections in a research note on Tuesday, January 6th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and an average price target of $206.50.

Waste Connections Price Performance

Waste Connections stock opened at $171.65 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $43.89 billion, a P/E ratio of 71.52, a PEG ratio of 3.08 and a beta of 0.62. The business has a 50-day moving average of $171.31 and a 200-day moving average of $174.95. Waste Connections, Inc. has a 1 year low of $162.06 and a 1 year high of $201.66.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, hitting the consensus estimate of $1.29. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. On average, equities analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Wednesday, February 25th will be given a $0.35 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio is currently 58.33%.

Waste Connections Company 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.