Blueshift Asset Management LLC Buys Shares of 3,087 Waste Connections, Inc. (NYSE:WCN)

Blueshift Asset Management LLC purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,087 shares of the business services provider’s stock, valued at approximately $552,000.

Other hedge funds also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. boosted its holdings in Waste Connections by 42.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,455 shares of the business services provider’s stock valued at $422,000 after purchasing an additional 728 shares during the period. Tidal Investments LLC increased its position in shares of Waste Connections by 7.7% during the first quarter. Tidal Investments LLC now owns 8,091 shares of the business services provider’s stock valued at $1,392,000 after purchasing an additional 575 shares during the period. Wahed Invest LLC lifted its position in Waste Connections by 37.8% in the first quarter. Wahed Invest LLC now owns 2,831 shares of the business services provider’s stock worth $487,000 after purchasing an additional 777 shares during the period. Atria Investments Inc boosted its stake in Waste Connections by 7.0% during the first quarter. Atria Investments Inc now owns 10,173 shares of the business services provider’s stock worth $1,750,000 after buying an additional 669 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in Waste Connections by 64.8% in the 1st quarter. Cetera Investment Advisers now owns 15,759 shares of the business services provider’s stock valued at $2,711,000 after buying an additional 6,198 shares during the period. 86.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WCN has been the subject of several recent research reports. Citigroup increased their price target on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Raymond James decreased their price target on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a report on Friday, October 25th. BMO Capital Markets reduced their target price on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Oppenheimer increased their target price on shares of Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and a consensus price target of $195.56.

Waste Connections Stock Down 0.0 %

NYSE:WCN opened at $193.18 on Thursday. The stock’s fifty day moving average price is $181.76 and its two-hundred day moving average price is $178.21. The company has a market cap of $49.85 billion, a price-to-earnings ratio of 53.07, a P/E/G ratio of 3.22 and a beta of 0.72. Waste Connections, Inc. has a 52-week low of $132.15 and a 52-week high of $194.83. 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 (NYSE:WCN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) 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 analysts’ expectations of $2.30 billion. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.17 earnings per share. On average, analysts anticipate that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Increases Dividend

The firm also recently declared 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 represents a $1.26 dividend on an annualized basis and a dividend yield of 0.65%. 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 payout ratio is 34.62%.

Waste Connections Company 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.