Quantbot Technologies LP Buys 70,187 Shares of Waste Connections, Inc. (NYSE:WCN)

Quantbot Technologies LP boosted its position in Waste Connections, Inc. (NYSE:WCN) by 1,209.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,991 shares of the business services provider’s stock after buying an additional 70,187 shares during the period. Waste Connections makes up approximately 0.5% of Quantbot Technologies LP’s portfolio, making the stock its 12th biggest position. Quantbot Technologies LP’s holdings in Waste Connections were worth $13,589,000 at the end of the most recent reporting period.

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

Waste Connections Trading Up 1.6 %

Shares of WCN stock opened at $192.84 on Tuesday. Waste Connections, Inc. has a 1 year low of $132.15 and a 1 year high of $193.06. The company’s fifty day simple moving average is $181.22 and its two-hundred day simple moving average is $177.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $49.76 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 3.17 and a beta of 0.72.

Waste Connections (NYSE:WCN) 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 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. As a group, analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Increases Dividend

The company 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. The ex-dividend date was Thursday, November 7th. This represents a $1.26 annualized dividend and a yield of 0.65%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is currently 34.62%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WCN shares. Oppenheimer boosted 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. 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 report on Friday, October 25th. Scotiabank began coverage on Waste Connections in a research note on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 target price (up from $200.00) on shares of Waste Connections in a research note on Friday, October 25th. Finally, Eight Capital upgraded shares of Waste Connections to a “hold” rating in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Waste Connections currently has an average rating of “Moderate Buy” and a consensus price target of $195.56.

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.