FSA Wealth Management LLC Takes $40,000 Position in Waste Connections, Inc. (NYSE:WCN)

FSA Wealth Management LLC purchased a new position in Waste Connections, Inc. (NYSE:WCN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 224 shares of the business services provider’s stock, valued at approximately $40,000.

A number of other institutional investors have also recently made changes to their positions in WCN. Global Trust Asset Management LLC bought a new position in Waste Connections in the 3rd quarter worth approximately $36,000. Asset Dedication LLC purchased a new position in Waste Connections during the third quarter worth about $41,000. Signature Resources Capital Management LLC bought a new position in Waste Connections in the 2nd quarter worth about $45,000. Kennebec Savings Bank bought a new stake in shares of Waste Connections during the 3rd quarter valued at about $47,000. Finally, Carolinas Wealth Consulting LLC increased its position in shares of Waste Connections by 3,885.7% in the second quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock worth $49,000 after purchasing an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Down 0.4 %

WCN opened at $192.47 on Monday. The business has a 50 day moving average of $182.31 and a 200-day moving average of $178.68. The stock has a market cap of $49.67 billion, a PE ratio of 52.88, a PEG ratio of 3.21 and a beta of 0.72. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Waste Connections, Inc. has a 52 week low of $132.65 and a 52 week high of $194.83.

Waste Connections (NYSE:WCN) last issued 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. The firm had revenue of $2.34 billion for 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 quarter in the prior year, the firm posted $1.17 earnings per share. Equities research analysts predict that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, November 7th. 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%.

Analysts Set New Price Targets

Several brokerages have issued reports on WCN. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday, October 25th. Scotiabank started coverage on shares of Waste Connections in a report on Friday, October 4th. They set a “sector perform” rating and a $196.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. BMO Capital Markets dropped their price target 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. Finally, Raymond James cut their price objective on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.56.

Waste Connections Company 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.