Oppenheimer Asset Management Inc. Raises Position in Waste Connections, Inc. (NYSE:WCN)

Oppenheimer Asset Management Inc. lifted its position in shares of Waste Connections, Inc. (NYSE:WCNFree Report) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,569 shares of the business services provider’s stock after acquiring an additional 697 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Waste Connections were worth $8,149,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC acquired a new stake in Waste Connections in the third quarter valued at $36,000. Asset Dedication LLC purchased a new position in shares of Waste Connections in the 3rd quarter valued at about $41,000. Pathway Financial Advisers LLC acquired a new stake in shares of Waste Connections in the first quarter valued at about $43,000. Signature Resources Capital Management LLC purchased a new stake in Waste Connections during the second quarter worth about $45,000. Finally, Kennebec Savings Bank purchased a new stake in Waste Connections during the third quarter worth about $47,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WCN shares. Raymond James dropped their target price on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a report on Friday, October 25th. Scotiabank assumed coverage on Waste Connections in a research note on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price objective for the company. Citigroup boosted their target price on Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. TD Cowen raised their price target on Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, CIBC boosted their price objective on shares of Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research report on Friday, July 26th. Six 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.56.

View Our Latest Stock Analysis on WCN

Waste Connections Price Performance

WCN stock opened at $183.83 on Friday. The stock has a market capitalization of $47.44 billion, a price-to-earnings ratio of 50.50, a price-to-earnings-growth ratio of 3.13 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 $130.33 and a 52-week high of $188.30. The stock’s fifty day simple moving average is $180.83 and its 200-day simple moving average is $176.55.

Waste Connections (NYSE:WCNGet Free Report) last issued its quarterly 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 firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the company earned $1.17 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. Equities research analysts expect that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid 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 yield of 0.69%. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio (DPR) is currently 34.62%.

Waste Connections Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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