Benjamin Edwards Inc. purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,465 shares of the business services provider's stock, valued at approximately $1,157,000.
Other hedge funds also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC bought a new stake in shares of Waste Connections in the 3rd quarter worth $36,000. FSA Wealth Management LLC purchased a new stake in shares of Waste Connections during the third quarter valued at $40,000. Asset Dedication LLC bought a new stake in Waste Connections in the 3rd quarter worth about $41,000. Signature Resources Capital Management LLC purchased a new position in Waste Connections in the 2nd quarter worth about $45,000. Finally, Kennebec Savings Bank bought a new position in Waste Connections during the 3rd quarter valued at about $47,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently commented on WCN shares. BMO Capital Markets reduced their price target on shares of Waste Connections from $198.00 to $196.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Raymond James decreased their target price on shares of Waste Connections from $208.00 to $205.00 and set a "strong-buy" rating for the company in a research note on Friday, October 25th. Stifel Nicolaus reissued a "buy" rating and set a $205.00 price target (up from $200.00) on shares of Waste Connections in a report on Friday, October 25th. CIBC lifted their price objective on Waste Connections from $199.00 to $215.00 and gave the stock an "outperformer" rating in a report on Wednesday. Finally, Oppenheimer increased their target price on Waste Connections from $191.00 to $194.00 and gave the company an "outperform" rating in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Connections has a consensus rating of "Moderate Buy" and an average target price of $198.40.
Check Out Our Latest Analysis on WCN
Waste Connections Price Performance
Shares of Waste Connections stock traded up $0.05 during trading hours on Friday, hitting $190.35. The company's stock had a trading volume of 671,026 shares, compared to its average volume of 858,327. The business has a 50 day moving average price of $183.47 and a two-hundred day moving average price of $179.45. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. Waste Connections, Inc. has a 12-month low of $137.25 and a 12-month high of $194.83. The company has a market cap of $49.12 billion, a PE ratio of 52.29, a PEG ratio of 3.19 and a beta of 0.74.
Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.
Waste Connections Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.315 per share. This is a positive change from Waste Connections's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.66%. Waste Connections's payout ratio is presently 34.62%.
About Waste Connections
(
Free Report)
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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