Metis Global Partners LLC Acquires 147 Shares of Waste Connections, Inc. (NYSE:WCN)

Metis Global Partners LLC increased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,635 shares of the business services provider’s stock after acquiring an additional 147 shares during the quarter. Metis Global Partners LLC’s holdings in Waste Connections were worth $829,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WCN. Scotiabank assumed coverage on Waste Connections in a report on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price on the stock. Citigroup raised their target price on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Eight Capital raised shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Raymond James decreased their price objective on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Finally, BMO Capital Markets cut their target price on Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Waste Connections currently has an average rating of “Moderate Buy” and a consensus target price of $195.56.

Waste Connections Price Performance

WCN stock opened at $183.50 on Monday. The company has a market capitalization of $47.35 billion, a P/E ratio of 50.41, a PEG ratio of 3.06 and a beta of 0.72. The company has a fifty day moving average price of $180.83 and a 200-day moving average price of $176.93. 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, Inc. has a 52-week low of $130.33 and a 52-week high of $188.30.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (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 analyst estimates of $2.30 billion. During the same period last year, the company earned $1.17 EPS. Waste Connections’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts expect that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Thursday, November 7th. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio is currently 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.