Harbor Investment Advisory LLC Grows Stock Position in Waste Connections, Inc. $WCN

Harbor Investment Advisory LLC boosted its holdings in Waste Connections, Inc. (NYSE:WCN) by 68.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,585 shares of the business services provider’s stock after buying an additional 3,075 shares during the period. Harbor Investment Advisory LLC’s holdings in Waste Connections were worth $1,332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WCN. Measured Wealth Private Client Group LLC purchased a new position in shares of Waste Connections during the 3rd quarter worth about $26,000. Asset Dedication LLC purchased a new stake in Waste Connections in the second quarter valued at approximately $28,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Waste Connections in the third quarter valued at approximately $30,000. Greykasell Wealth Strategies Inc. increased its position in Waste Connections by 555.2% during the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock worth $33,000 after purchasing an additional 161 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new position in Waste Connections during the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $205.00 price target (down from $206.00) on shares of Waste Connections in a report on Friday, January 23rd. UBS Group set a $205.00 price objective on Waste Connections in a report on Monday, January 5th. JPMorgan Chase & Co. cut their target price on Waste Connections from $220.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Morgan Stanley set a $205.00 target price on Waste Connections and gave the company an “overweight” rating in a report on Friday, February 13th. Finally, BNP Paribas Exane initiated coverage on Waste Connections in a research report on Tuesday, January 6th. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $203.52.

Waste Connections Stock Performance

Waste Connections stock opened at $162.76 on Friday. The firm has a market capitalization of $41.54 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 2.79 and a beta of 0.62. Waste Connections, Inc. has a one year low of $155.65 and a one year high of $201.66. The stock’s 50 day moving average price is $167.13 and its 200 day moving average price is $171.20. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. Waste Connections’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $1.16 earnings per share. As a group, sell-side analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Wednesday, February 25th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections’s payout ratio is 33.57%.

Waste Connections Company Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.