Waste Connections, Inc. (NYSE:WCN) Shares Acquired by Concentric Capital Strategies LP

Concentric Capital Strategies LP boosted its holdings in Waste Connections, Inc. (NYSE:WCN) by 192.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,389 shares of the business services provider’s stock after purchasing an additional 20,646 shares during the quarter. Concentric Capital Strategies LP’s holdings in Waste Connections were worth $5,613,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WCN. Benjamin Edwards Inc. bought a new position in shares of Waste Connections in the 3rd quarter worth about $1,157,000. FSA Wealth Management LLC acquired a new stake in Waste Connections during the third quarter worth about $40,000. Erste Asset Management GmbH acquired a new stake in Waste Connections during the third quarter worth about $1,998,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Waste Connections by 432.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,259,312 shares of the business services provider’s stock worth $225,078,000 after acquiring an additional 1,022,851 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in Waste Connections by 67.4% in the third quarter. Verition Fund Management LLC now owns 129,131 shares of the business services provider’s stock valued at $23,091,000 after acquiring an additional 51,983 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Waste Connections stock opened at $192.47 on Monday. The company’s 50-day moving average is $182.31 and its two-hundred day moving average is $178.68. Waste Connections, Inc. has a 1 year low of $132.65 and a 1 year high of $194.83. The company 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 current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data 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 company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. Waste Connections’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. Equities analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Increases Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on WCN. JPMorgan Chase & Co. cut their price target on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Scotiabank started coverage on Waste Connections in a research note on Friday, October 4th. They issued a “sector perform” rating and a $196.00 target price on the stock. Oppenheimer upped their price target on shares of Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Waste Connections in a report on Friday, October 25th. Finally, Eight Capital raised shares of Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $195.56.

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.