Polar Asset Management Partners Inc. Increases Position in Waste Connections, Inc. (NYSE:WCN)

Polar Asset Management Partners Inc. grew its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 137.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,200 shares of the business services provider's stock after purchasing an additional 5,900 shares during the period. Polar Asset Management Partners Inc.'s holdings in Waste Connections were worth $1,824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WCN. Global Trust Asset Management LLC purchased a new position in Waste Connections during the third quarter worth $36,000. FSA Wealth Management LLC purchased a new stake in Waste Connections in the 3rd quarter worth about $40,000. Asset Dedication LLC bought a new stake in Waste Connections in the third quarter worth about $41,000. Signature Resources Capital Management LLC purchased a new position in shares of Waste Connections during the second quarter valued at approximately $45,000. Finally, Kennebec Savings Bank bought a new position in shares of Waste Connections during the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Price Performance

Shares of WCN stock traded up $0.05 during mid-day trading on Friday, hitting $190.35. 671,026 shares of the stock were exchanged, compared to its average volume of 884,914. Waste Connections, Inc. has a 52-week low of $137.25 and a 52-week high of $194.83. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The company has a market cap of $49.12 billion, a PE ratio of 52.29, a price-to-earnings-growth ratio of 3.20 and a beta of 0.74. The firm has a fifty day moving average of $183.21 and a 200 day moving average of $179.18.

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

Waste Connections Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.66%. This is an increase from Waste Connections's previous quarterly dividend of $0.29. The ex-dividend date was Thursday, November 7th. Waste Connections's dividend payout ratio (DPR) is presently 34.62%.

Analyst Ratings Changes

WCN has been the topic of a number of research analyst reports. Oppenheimer upped their price target on shares of Waste Connections from $191.00 to $194.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Eight Capital raised shares of Waste Connections to a "hold" rating in a research report on Wednesday, October 9th. Citigroup lifted their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday, October 3rd. Stifel Nicolaus restated a "buy" rating and set a $205.00 target price (up previously from $200.00) on shares of Waste Connections in a report on Friday, October 25th. Finally, Scotiabank started coverage on Waste Connections in a report on Friday, October 4th. They issued a "sector perform" rating and a $196.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Connections currently has an average rating of "Moderate Buy" and an average target price of $198.40.

About Waste Connections

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.