Dynamic Technology Lab Private Ltd Acquires New Shares in Waste Connections, Inc. (NYSE:WCN)

Dynamic Technology Lab Private Ltd bought a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,000 shares of the business services provider’s stock, valued at approximately $2,503,000.

Several other hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of Waste Connections by 307.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock valued at $344,615,000 after acquiring an additional 1,453,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Waste Connections by 44.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,964,082 shares of the business services provider’s stock valued at $351,037,000 after purchasing an additional 602,055 shares during the period. Nicholas Company Inc. bought a new position in shares of Waste Connections in the second quarter valued at approximately $64,176,000. Sei Investments Co. lifted its stake in shares of Waste Connections by 252.5% in the second quarter. Sei Investments Co. now owns 510,243 shares of the business services provider’s stock worth $89,477,000 after buying an additional 365,487 shares during the last quarter. Finally, Impax Asset Management Group plc bought a new stake in shares of Waste Connections during the 3rd quarter worth $54,800,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WCN has been the subject of a number of research analyst reports. Eight Capital raised shares of Waste Connections to a “hold” rating in a research report on Wednesday, October 9th. Oppenheimer boosted their price objective on Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Royal Bank of Canada lifted their price target on Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their price target on Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Scotiabank initiated coverage on shares of Waste Connections in a research report on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price on the stock. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.56.

Waste Connections Stock Up 0.5 %

Shares of WCN opened at $189.87 on Monday. Waste Connections, Inc. has a 12 month low of $132.15 and a 12 month high of $190.77. The stock has a market cap of $49.00 billion, a price-to-earnings ratio of 52.16, a P/E/G ratio of 3.17 and a beta of 0.72. The company has a 50-day moving average price of $181.07 and a two-hundred day moving average price of $177.74. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping 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 business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the company earned $1.17 EPS. Waste Connections’s revenue was up 13.3% on a year-over-year basis. Equities analysts predict that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a $0.315 dividend. 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 annualized dividend and a dividend yield of 0.66%. Waste Connections’s dividend payout ratio is presently 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.