Gradient Investments LLC Increases Stake in Waste Connections, Inc. $WCN

Gradient Investments LLC lifted its position in Waste Connections, Inc. (NYSE:WCN) by 18.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,595 shares of the business services provider’s stock after acquiring an additional 22,722 shares during the quarter. Gradient Investments LLC’s holdings in Waste Connections were worth $25,532,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in Waste Connections in the 1st quarter worth about $577,000. DNB Asset Management AS boosted its position in shares of Waste Connections by 31.1% during the second quarter. DNB Asset Management AS now owns 67,169 shares of the business services provider’s stock valued at $12,542,000 after buying an additional 15,919 shares during the period. Neo Ivy Capital Management bought a new position in shares of Waste Connections during the second quarter valued at approximately $206,000. MAI Capital Management grew its stake in shares of Waste Connections by 15.0% during the second quarter. MAI Capital Management now owns 1,283 shares of the business services provider’s stock valued at $240,000 after buying an additional 167 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Waste Connections by 16.4% in the second quarter. Franklin Resources Inc. now owns 1,340,020 shares of the business services provider’s stock worth $250,239,000 after buying an additional 189,076 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Down 1.3%

Shares of NYSE:WCN opened at $162.76 on Monday. The business’s 50 day moving average is $167.13 and its 200 day moving average is $171.13. The stock has a market cap of $41.54 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 2.79 and a beta of 0.62. Waste Connections, Inc. has a 52-week low of $155.65 and a 52-week high of $201.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.07.

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

Waste Connections Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on WCN. Oppenheimer reissued an “outperform” rating and set a $205.00 price target (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. TD Cowen reduced their target price on Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $212.00 target price on Waste Connections in a research report on Friday, February 13th. Morgan Stanley set a $205.00 target price on shares of Waste Connections and gave the company an “overweight” rating in a research note on Friday, February 13th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $183.00 price target (down from $196.00) on shares of Waste Connections in a research note on Friday, January 16th. Four investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $203.52.

About Waste Connections

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.