Icon Wealth Advisors LLC Raises Position in Waste Connections, Inc. (NYSE:WCN)

Icon Wealth Advisors LLC lifted its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 1,300.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,487 shares of the business services provider's stock after buying an additional 12,524 shares during the quarter. Icon Wealth Advisors LLC's holdings in Waste Connections were worth $2,412,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Trust Asset Management LLC purchased a new stake in shares of Waste Connections during the third quarter valued at approximately $36,000. Asset Dedication LLC purchased a new stake in Waste Connections during the 3rd quarter worth $41,000. Pathway Financial Advisers LLC acquired a new position in Waste Connections in the 1st quarter worth $43,000. Signature Resources Capital Management LLC acquired a new position in Waste Connections in the 2nd quarter worth $45,000. Finally, Kennebec Savings Bank purchased a new position in Waste Connections in the 3rd quarter valued at about $47,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WCN shares. Stifel Nicolaus restated a "buy" rating and set a $205.00 price objective (up previously from $200.00) on shares of Waste Connections in a research note on Friday, October 25th. Oppenheimer upped their price target on shares of Waste Connections from $191.00 to $194.00 and gave the company an "outperform" rating in a report on Monday, October 21st. Citigroup raised their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the stock a "neutral" rating in a report on Thursday, October 3rd. CIBC boosted their price objective on Waste Connections from $191.00 to $193.00 and gave the company an "outperformer" rating in a report on Friday, July 26th. Finally, Eight Capital upgraded Waste Connections to a "hold" rating in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $195.56.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $189.01 on Friday. The firm's 50 day moving average is $180.99 and its two-hundred day moving average is $177.40. The firm has a market capitalization of $48.78 billion, a P/E ratio of 51.93, a PEG ratio of 3.13 and a beta of 0.72. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Waste Connections, Inc. has a 52 week low of $131.67 and a 52 week high of $189.48.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.05. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 EPS. Analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a dividend of $0.315 per share. This is a boost from Waste Connections's previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, November 7th. Waste Connections's payout ratio is currently 34.62%.

Waste Connections 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.

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