Waste Connections, Inc. (NYSE:WCN) Shares Purchased by Wahed Invest LLC

Wahed Invest LLC raised its holdings in Waste Connections, Inc. (NYSE:WCN) by 9.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,367 shares of the business services provider’s stock after purchasing an additional 299 shares during the quarter. Wahed Invest LLC’s holdings in Waste Connections were worth $602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Trust raised its holdings in shares of Waste Connections by 3.7% in the 2nd quarter. American Trust now owns 1,573 shares of the business services provider’s stock valued at $276,000 after buying an additional 56 shares during the period. GAMMA Investing LLC raised its stake in Waste Connections by 15.0% during the 3rd quarter. GAMMA Investing LLC now owns 529 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 69 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Waste Connections by 8.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 916 shares of the business services provider’s stock valued at $161,000 after acquiring an additional 74 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Waste Connections by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,966 shares of the business services provider’s stock valued at $1,047,000 after acquiring an additional 82 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of Waste Connections by 6.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,515 shares of the business services provider’s stock worth $271,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Up 0.0 %

Shares of NYSE WCN opened at $190.35 on Friday. The company’s fifty day moving average is $183.21 and its 200-day moving average is $179.18. The stock has a market cap of $49.12 billion, a price-to-earnings ratio of 52.29, a P/E/G ratio of 3.19 and a beta of 0.74. Waste Connections, Inc. has a twelve month low of $137.25 and a twelve month high of $194.83. 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 (NYSE:WCN) last posted its quarterly earnings data 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 net margin of 10.81% and a return on equity of 15.43%. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the firm posted $1.17 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts predict that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.315 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is currently 34.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WCN shares. JPMorgan Chase & Co. dropped their price objective on Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Oppenheimer raised their price objective on Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Royal Bank of Canada lifted their target price on Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Scotiabank started coverage on Waste Connections in a research report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price objective on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $205.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Waste Connections has an average rating of “Moderate Buy” and an average price target of $198.40.

Waste Connections Company 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.