Waste Connections, Inc. (NYSE:WCN) Position Boosted by Tidal Investments LLC

Tidal Investments LLC lifted its stake in Waste Connections, Inc. (NYSE:WCN) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,786 shares of the business services provider’s stock after purchasing an additional 151 shares during the quarter. Tidal Investments LLC’s holdings in Waste Connections were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Waste Connections in the 3rd quarter worth approximately $188,000. Virtu Financial LLC purchased a new stake in shares of Waste Connections during the third quarter worth $1,586,000. TCW Group Inc. boosted its position in Waste Connections by 6.7% during the third quarter. TCW Group Inc. now owns 722,426 shares of the business services provider’s stock valued at $129,184,000 after purchasing an additional 45,215 shares during the last quarter. Toronto Dominion Bank grew its stake in Waste Connections by 58.1% in the third quarter. Toronto Dominion Bank now owns 657,791 shares of the business services provider’s stock valued at $117,626,000 after purchasing an additional 241,707 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its position in Waste Connections by 12.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,848 shares of the business services provider’s stock worth $691,000 after purchasing an additional 427 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Down 0.9 %

Shares of WCN stock opened at $174.66 on Thursday. Waste Connections, Inc. has a 12 month low of $145.35 and a 12 month high of $194.83. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The firm has a market cap of $45.07 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74. The stock has a 50 day moving average of $183.93 and a 200-day moving average of $180.43.

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, beating analysts’ consensus estimates of $1.30 by $0.05. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 EPS. On average, equities analysts predict that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Increases Dividend

The company 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 annualized dividend and a yield of 0.72%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, November 7th. Waste Connections’s payout ratio is currently 34.62%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WCN. Oppenheimer boosted their price target on Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus boosted their target price on shares of Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Morgan Stanley increased their price target on shares of Waste Connections from $206.00 to $214.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Scotiabank assumed coverage on shares of Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price objective for the company. Finally, BMO Capital Markets cut their target price on Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. 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’s stock. According to MarketBeat, Waste Connections currently has an average rating of “Moderate Buy” and a consensus target price of $199.88.

Waste Connections 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.