Legacy Capital Wealth Partners LLC Makes New $308,000 Investment in Waste Connections, Inc. (NYSE:WCN)

Legacy Capital Wealth Partners LLC acquired a new stake in Waste Connections, Inc. (NYSE:WCN) in the 3rd quarter, HoldingsChannel reports. The fund acquired 1,721 shares of the business services provider’s stock, valued at approximately $308,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WCN. Vanguard Group Inc. lifted its holdings in Waste Connections by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 28,498,983 shares of the business services provider’s stock worth $4,902,110,000 after buying an additional 88,137 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Waste Connections by 2.3% in the second quarter. Bank of Montreal Can now owns 8,103,895 shares of the business services provider’s stock valued at $1,423,373,000 after acquiring an additional 178,870 shares in the last quarter. Fiera Capital Corp boosted its holdings in Waste Connections by 6.5% in the third quarter. Fiera Capital Corp now owns 2,332,002 shares of the business services provider’s stock valued at $417,385,000 after purchasing an additional 142,751 shares during the period. Principal Financial Group Inc. grew its stake in Waste Connections by 307.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock worth $344,615,000 after purchasing an additional 1,453,733 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Waste Connections by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 1,690,733 shares of the business services provider’s stock worth $296,510,000 after purchasing an additional 71,681 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

WCN stock opened at $185.36 on Tuesday. The business has a 50 day simple moving average of $180.75 and a 200-day simple moving average of $176.16. The company has a market capitalization of $47.83 billion, a P/E ratio of 50.92, a PEG ratio of 3.07 and a beta of 0.72. Waste Connections, Inc. has a twelve month low of $129.31 and a twelve month high of $187.54. 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 (NYSE:WCN) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. Waste Connections’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. As a group, equities analysts anticipate that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.315 per share. The ex-dividend date is Thursday, November 7th. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 0.68%. Waste Connections’s dividend payout ratio is currently 34.62%.

Analysts Set New Price Targets

WCN has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. TD Cowen lifted their price target on shares of Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Raymond James lowered their price target on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a report on Friday, October 25th. Citigroup raised 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. Finally, Oppenheimer boosted their target price on shares of Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and a consensus price target of $195.56.

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.