EDENTREE ASSET MANAGEMENT Ltd Acquires 19,750 Shares of Waste Connections, Inc. $WCN

EDENTREE ASSET MANAGEMENT Ltd raised its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 31.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 81,650 shares of the business services provider’s stock after purchasing an additional 19,750 shares during the period. Waste Connections makes up approximately 3.5% of EDENTREE ASSET MANAGEMENT Ltd’s portfolio, making the stock its 8th biggest holding. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Waste Connections were worth $14,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Personal CFO Solutions LLC boosted its position in shares of Waste Connections by 4.0% during the third quarter. Personal CFO Solutions LLC now owns 5,004 shares of the business services provider’s stock valued at $880,000 after buying an additional 191 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Waste Connections by 35.1% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,443 shares of the business services provider’s stock valued at $957,000 after acquiring an additional 1,413 shares in the last quarter. Fiera Capital Corp boosted its holdings in Waste Connections by 9.5% during the 3rd quarter. Fiera Capital Corp now owns 2,694,480 shares of the business services provider’s stock worth $473,518,000 after acquiring an additional 233,400 shares during the last quarter. NewEdge Wealth LLC raised its holdings in shares of Waste Connections by 32.6% in the third quarter. NewEdge Wealth LLC now owns 2,756 shares of the business services provider’s stock valued at $457,000 after purchasing an additional 678 shares during the last quarter. Finally, OAKMONT Corp lifted its position in shares of Waste Connections by 163.9% during the third quarter. OAKMONT Corp now owns 162,684 shares of the business services provider’s stock valued at $28,600,000 after purchasing an additional 101,043 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Down 1.5%

Shares of NYSE WCN opened at $163.53 on Friday. The business’s fifty day moving average price is $170.02 and its 200-day moving average price is $173.67. Waste Connections, Inc. has a one year low of $155.65 and a one year high of $201.66. The stock has a market capitalization of $41.81 billion, a PE ratio of 39.22, a P/E/G ratio of 2.81 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.62 and a quick ratio of 0.62.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. On average, equities research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Wednesday, February 25th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections’s payout ratio is presently 33.57%.

Analyst Ratings Changes

Several equities research analysts have commented on WCN shares. Barclays set a $176.00 price objective on shares of Waste Connections and gave the company an “equal weight” rating in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce set a $208.00 target price on Waste Connections in a report on Thursday, January 8th. BNP Paribas Exane began coverage on Waste Connections in a report on Tuesday, January 6th. They set an “outperform” rating on the stock. Wells Fargo & Company initiated coverage on 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, The Goldman Sachs Group initiated coverage on Waste Connections in a research report on Monday, November 24th. They set a “buy” rating and a $202.00 target price for the company. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $203.75.

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.