Holocene Advisors LP Invests $8.60 Million in Waste Connections, Inc. (NYSE:WCN)

Holocene Advisors LP acquired a new position in shares of Waste Connections, Inc. (NYSE:WCNFree Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 48,076 shares of the business services provider’s stock, valued at approximately $8,597,000.

A number of other hedge funds have also recently added to or reduced their stakes in WCN. Global Trust Asset Management LLC bought a new position in shares of Waste Connections in the 3rd quarter worth about $36,000. FSA Wealth Management LLC bought a new position in Waste Connections in the third quarter worth about $40,000. Asset Dedication LLC acquired a new position in Waste Connections in the third quarter valued at approximately $41,000. Signature Resources Capital Management LLC bought a new position in shares of Waste Connections during the second quarter valued at approximately $45,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Waste Connections during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Price Performance

NYSE WCN opened at $191.54 on Wednesday. The stock has a market capitalization of $49.43 billion, a P/E ratio of 52.62, a P/E/G ratio of 3.18 and a beta of 0.74. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. The business’s fifty day moving average is $182.76 and its two-hundred day moving average is $179.02. Waste Connections, Inc. has a 1 year low of $137.25 and a 1 year high of $194.83.

Waste Connections (NYSE:WCNGet Free Report) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the business posted $1.17 earnings per share. Waste Connections’s revenue was up 13.3% compared to the same quarter last year. On average, research analysts forecast 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. Shareholders of record on Thursday, November 7th were issued a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.66%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is presently 34.62%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Scotiabank assumed coverage on Waste Connections in a research note on Friday, October 4th. They set a “sector perform” rating and a $196.00 price objective for the company. BMO Capital Markets lowered their price target on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Raymond James cut their price target on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $195.56.

Get Our Latest Stock Report on WCN

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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