Tranquility Partners LLC Has $779,000 Stock Position in Waste Connections, Inc. (NYSE:WCN)

Tranquility Partners LLC trimmed its holdings in Waste Connections, Inc. (NYSE:WCN) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,355 shares of the business services provider’s stock after selling 134 shares during the quarter. Tranquility Partners LLC’s holdings in Waste Connections were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pathstone Holdings LLC grew its position in Waste Connections by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 45,420 shares of the business services provider’s stock worth $8,122,000 after purchasing an additional 213 shares during the last quarter. Gilbert & Cook Inc. bought a new stake in shares of Waste Connections in the third quarter valued at about $258,000. Swiss National Bank grew its position in Waste Connections by 0.4% during the third quarter. Swiss National Bank now owns 765,845 shares of the business services provider’s stock worth $136,948,000 after buying an additional 2,900 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Waste Connections by 982.5% during the third quarter. Thrivent Financial for Lutherans now owns 109,401 shares of the business services provider’s stock valued at $19,563,000 after acquiring an additional 99,295 shares during the period. Finally, OneDigital Investment Advisors LLC raised its holdings in Waste Connections by 6.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,617 shares of the business services provider’s stock valued at $647,000 after acquiring an additional 212 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Price Performance

Waste Connections stock opened at $186.01 on Tuesday. The stock has a market cap of $48.00 billion, a price-to-earnings ratio of 51.10, a P/E/G ratio of 3.06 and a beta of 0.72. Waste Connections, Inc. has a 12-month low of $130.33 and a 12-month high of $188.30. 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 business’s 50-day simple moving average is $180.85 and its 200 day simple moving average is $177.09.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the company earned $1.17 EPS. Waste Connections’s revenue was up 13.3% on a year-over-year basis. As a group, research analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a $0.315 dividend. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is currently 34.62%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WCN shares. BMO Capital Markets decreased their price objective on Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. CIBC raised their price objective on shares of Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a report on Friday, July 26th. TD Cowen upped their target price on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada increased their price target on shares of Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Six investment 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.