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

Azzad Asset Management Inc. ADV increased its holdings in Waste Connections, Inc. (NYSE:WCN) by 4.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,097 shares of the business services provider’s stock after buying an additional 188 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Waste Connections were worth $800,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Oarsman Capital Inc. raised its position in Waste Connections by 41.4% during the fourth quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 65 shares in the last quarter. AdvisorNet Financial Inc raised its position in Waste Connections by 28.9% during the first quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 65 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. Integrated Advisors Network LLC raised its position in Waste Connections by 5.5% during the fourth quarter. Integrated Advisors Network LLC now owns 1,562 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 81 shares in the last quarter. Finally, Continuum Advisory LLC raised its position in Waste Connections by 36.3% during the fourth quarter. Continuum Advisory LLC now owns 308 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Down 0.4%

NYSE WCN opened at $190.60 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $49.25 billion, a PE ratio of 79.75, a PEG ratio of 3.07 and a beta of 0.62. Waste Connections, Inc. has a 1 year low of $167.51 and a 1 year high of $201.66. The business’s 50-day moving average is $193.90 and its 200 day moving average is $187.50.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.06. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. Waste Connections’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $1.04 earnings per share. Sell-side analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were given a dividend of $0.315 per share. The ex-dividend date was Wednesday, May 7th. This represents a $1.26 annualized dividend and a yield of 0.66%. Waste Connections’s payout ratio is 51.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. National Bank Financial upgraded Waste Connections to a “strong-buy” rating in a research report on Monday, May 26th. Citigroup raised their price target on Waste Connections from $209.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 29th. Truist Financial set a $220.00 price target on Waste Connections in a research report on Friday, April 25th. BMO Capital Markets lifted their price objective on Waste Connections from $214.00 to $216.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Waste Connections from $197.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $212.29.

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.