Algert Global LLC Acquires New Holdings in Waste Connections, Inc. (NYSE:WCN)

Algert Global LLC bought a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,520 shares of the business services provider’s stock, valued at approximately $451,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC grew its stake in shares of Waste Connections by 6.3% in the third quarter. Kingsview Wealth Management LLC now owns 1,515 shares of the business services provider’s stock worth $271,000 after purchasing an additional 90 shares during the last quarter. Cerity Partners LLC grew its position in shares of Waste Connections by 86.7% in the 3rd quarter. Cerity Partners LLC now owns 10,932 shares of the business services provider’s stock valued at $1,955,000 after buying an additional 5,078 shares during the last quarter. Montrusco Bolton Investments Inc. increased its stake in shares of Waste Connections by 15.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 2,303,339 shares of the business services provider’s stock valued at $401,936,000 after buying an additional 309,619 shares during the period. Icon Wealth Advisors LLC raised its position in shares of Waste Connections by 1,300.5% during the third quarter. Icon Wealth Advisors LLC now owns 13,487 shares of the business services provider’s stock worth $2,412,000 after acquiring an additional 12,524 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Waste Connections by 10.9% in the third quarter. Citigroup Inc. now owns 123,896 shares of the business services provider’s stock worth $22,171,000 after acquiring an additional 12,187 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Price Performance

Shares of NYSE WCN opened at $192.47 on Friday. The stock has a market cap of $49.67 billion, a price-to-earnings ratio of 52.88, a PEG 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, Inc. has a fifty-two week low of $132.65 and a fifty-two week high of $194.83. The firm’s 50-day simple moving average is $182.31 and its 200 day simple moving average is $178.59.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating 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 quarter last year, the company earned $1.17 earnings per share. The company’s revenue for the quarter 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 fiscal year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.315 dividend. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.26 annualized dividend and a dividend yield of 0.65%. Waste Connections’s dividend payout ratio is presently 34.62%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WCN shares. Scotiabank assumed coverage on shares of Waste Connections in a research report on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. BMO Capital Markets cut their price target on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Eight Capital raised Waste Connections to a “hold” rating in a research report on Wednesday, October 9th. Finally, Raymond James cut their target price on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $195.56.

Waste Connections 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.