Waste Connections, Inc. (NYSE:WCN) Holdings Cut by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 32.2% in the 3rd quarter, Holdings Channel reports. The firm owned 1,197 shares of the business services provider’s stock after selling 568 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Waste Connections were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in WCN. Global Trust Asset Management LLC bought a new position in Waste Connections during the 3rd quarter worth $36,000. FSA Wealth Management LLC acquired a new position in shares of Waste Connections during the third quarter valued at $40,000. Continuum Advisory LLC grew its position in shares of Waste Connections by 58.0% during the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock worth $42,000 after acquiring an additional 83 shares during the last quarter. Asset Dedication LLC acquired a new stake in shares of Waste Connections in the 3rd quarter worth about $41,000. Finally, Kennebec Savings Bank bought a new stake in Waste Connections in the 3rd quarter valued at about $47,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Price Performance

NYSE WCN opened at $174.28 on Friday. Waste Connections, Inc. has a 1 year low of $145.35 and a 1 year high of $194.83. The business’s fifty day moving average is $183.67 and its two-hundred day moving average is $180.56. The stock has a market capitalization of $44.98 billion, a P/E ratio of 47.88, a P/E/G ratio of 3.08 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.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. Waste Connections’s revenue for the quarter 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 0.72%. 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%.

Analyst Upgrades and Downgrades

Several research analysts have commented on WCN shares. Eight Capital upgraded shares of Waste Connections to a “hold” rating in a research report on Wednesday, October 9th. CIBC lowered their target price on Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a research report on Thursday. Scotiabank initiated coverage on Waste Connections in a research report on Friday, October 4th. They set a “sector perform” rating and a $196.00 price target for the company. BMO Capital Markets decreased their price target on Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Oppenheimer lifted their price objective on shares of Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $199.69.

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.