Waste Connections, Inc. (NYSE:WCN) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,515 shares of the business services provider’s stock after acquiring an additional 90 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Waste Connections were worth $271,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Versor Investments LP lifted its stake in Waste Connections by 75.1% during the third quarter. Versor Investments LP now owns 8,221 shares of the business services provider’s stock worth $1,470,000 after purchasing an additional 3,527 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Waste Connections by 65.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 3,034 shares of the business services provider’s stock worth $543,000 after buying an additional 1,202 shares during the last quarter. Gradient Investments LLC lifted its position in shares of Waste Connections by 11.0% in the 2nd quarter. Gradient Investments LLC now owns 65,052 shares of the business services provider’s stock worth $11,408,000 after buying an additional 6,432 shares during the last quarter. Fiera Capital Corp boosted its holdings in shares of Waste Connections by 6.5% in the 3rd quarter. Fiera Capital Corp now owns 2,332,002 shares of the business services provider’s stock valued at $417,385,000 after buying an additional 142,751 shares during the period. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Waste Connections during the second quarter valued at approximately $932,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WCN has been the topic of several recent research reports. Scotiabank started coverage on Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price target on the stock. Oppenheimer lifted their price objective on shares of Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Citigroup boosted their price objective on Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Eight Capital raised Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $205.00 target price (up previously from $200.00) on shares of Waste Connections in a research note on Friday, October 25th. Five 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.56.

Waste Connections Trading Down 0.4 %

Waste Connections stock opened at $192.47 on Friday. Waste Connections, Inc. has a 1 year low of $132.65 and a 1 year high of $194.83. The firm’s 50 day moving average price is $182.31 and its two-hundred day moving average price is $178.50. The firm has a market cap of $49.67 billion, a price-to-earnings ratio of 52.88, a price-to-earnings-growth 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.

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 analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. Waste Connections’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts predict 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. Stockholders of record on Thursday, November 7th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.65%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s 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.