Baskin Financial Services Inc. Has $56.89 Million Holdings in Waste Connections, Inc. (NYSE:WCN)

Baskin Financial Services Inc. cut its holdings in Waste Connections, Inc. (NYSE:WCN) by 0.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 291,919 shares of the business services provider’s stock after selling 2,428 shares during the quarter. Waste Connections accounts for approximately 4.6% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 4th largest position. Baskin Financial Services Inc. owned 0.11% of Waste Connections worth $56,893,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WCN. Private Trust Co. NA grew its stake in shares of Waste Connections by 153.3% in the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after buying an additional 92 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Waste Connections during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 71 shares during the last quarter. Oarsman Capital Inc. lifted its holdings in shares of Waste Connections by 41.4% in the 4th quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 65 shares during the last quarter. Finally, Global Financial Private Client LLC grew its position in Waste Connections by 890.0% in the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider’s stock worth $39,000 after acquiring an additional 178 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WCN shares. Royal Bank Of Canada restated an “outperform” rating and set a $221.00 price objective on shares of Waste Connections in a research report on Friday, April 25th. William Blair started coverage on Waste Connections in a research report on Thursday, April 3rd. They set an “outperform” rating on the stock. Seaport Res Ptn upgraded Waste Connections to a “strong-buy” rating in a report on Tuesday, May 6th. BMO Capital Markets raised their price target on Waste Connections from $214.00 to $216.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Finally, National Bank Financial raised shares of Waste Connections to a “strong-buy” rating in a research note on Monday, May 26th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Waste Connections has a consensus rating of “Buy” and an average price target of $212.29.

Waste Connections Trading Down 4.3%

WCN stock opened at $177.80 on Thursday. The company has a market capitalization of $45.94 billion, a PE ratio of 73.17, a P/E/G ratio of 3.22 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.70. Waste Connections, Inc. has a 12 month low of $169.36 and a 12 month high of $201.66. The firm’s 50-day moving average is $191.75 and its 200 day moving average is $187.34.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.06. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the company posted $1.04 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were issued a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Wednesday, May 7th. Waste Connections’s dividend payout ratio is 51.85%.

About Waste Connections

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.