Blueshift Asset Management LLC Acquires New Shares in Waste Connections, Inc. (NYSE:WCN)

Blueshift Asset Management LLC bought a new stake in Waste Connections, Inc. (NYSE:WCN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,087 shares of the business services provider’s stock, valued at approximately $552,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC acquired a new stake in shares of Waste Connections in the 3rd quarter valued at approximately $36,000. Asset Dedication LLC acquired a new stake in Waste Connections in the third quarter worth $41,000. Pathway Financial Advisers LLC bought a new position in shares of Waste Connections during the first quarter worth $43,000. Signature Resources Capital Management LLC acquired a new position in shares of Waste Connections in the 2nd quarter valued at $45,000. Finally, Kennebec Savings Bank acquired a new position in shares of Waste Connections in the 3rd quarter valued at $47,000. Institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on 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 report on Friday, October 25th. Eight Capital upgraded Waste Connections to a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their target price 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. Oppenheimer lifted their price target 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, Raymond James lowered 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 report on Friday, October 25th. 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 company. According to data from MarketBeat.com, Waste Connections has a consensus rating of “Moderate Buy” and a consensus price target of $195.56.

Waste Connections Price Performance

NYSE:WCN opened at $193.18 on Thursday. Waste Connections, Inc. has a 52-week low of $132.15 and a 52-week high of $194.83. The company has a market cap of $49.85 billion, a P/E ratio of 53.07, a P/E/G ratio of 3.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. The stock’s 50-day simple moving average is $181.76 and its 200 day simple moving average is $178.21.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.05. The firm had revenue of $2.34 billion for 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%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS. As a group, sell-side analysts forecast that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a $0.315 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.65%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio (DPR) is currently 34.62%.

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.