Waste Connections, Inc. (NYSE:WCN) Shares Purchased by Continuum Advisory LLC

Continuum Advisory LLC grew its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 58.0% in the third quarter, HoldingsChannel reports. The fund owned 226 shares of the business services provider’s stock after buying an additional 83 shares during the quarter. Continuum Advisory LLC’s holdings in Waste Connections were worth $42,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WCN. Global Trust Asset Management LLC acquired a new position in Waste Connections during the third quarter worth approximately $36,000. FSA Wealth Management LLC acquired a new stake in shares of Waste Connections during the 3rd quarter worth $40,000. Asset Dedication LLC purchased a new position in shares of Waste Connections in the 3rd quarter worth $41,000. Signature Resources Capital Management LLC purchased a new position in shares of Waste Connections in the 2nd quarter worth $45,000. Finally, Kennebec Savings Bank acquired a new position in Waste Connections in the third quarter valued at $47,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WCN. Eight Capital upgraded Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada raised their price target on shares of Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Raymond James decreased their price objective on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a research note on Friday, October 25th. Oppenheimer raised their target price on shares of Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Morgan Stanley lifted their target price on shares of Waste Connections from $206.00 to $214.00 and gave the company an “overweight” rating in a report on Thursday. Five research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.81.

Waste Connections Price Performance

NYSE WCN opened at $184.24 on Friday. Waste Connections, Inc. has a 1 year low of $144.69 and a 1 year high of $194.83. The business’s fifty day moving average is $183.92 and its two-hundred day moving average is $179.88. The stock has a market capitalization of $47.55 billion, a P/E ratio of 50.62, a P/E/G ratio of 3.18 and a beta of 0.74. 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 released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. Waste Connections’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. On average, research analysts forecast that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.68%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, November 7th. Waste Connections’s payout ratio is presently 34.62%.

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.