Wealthfront Advisers LLC Purchases 1,682 Shares of Waste Connections, Inc. (NYSE:WCN)

Wealthfront Advisers LLC increased its stake in Waste Connections, Inc. (NYSE:WCN) by 6.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,458 shares of the business services provider’s stock after buying an additional 1,682 shares during the period. Wealthfront Advisers LLC’s holdings in Waste Connections were worth $5,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Checchi Capital Advisers LLC grew its stake in Waste Connections by 4.6% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider’s stock valued at $249,000 after purchasing an additional 56 shares during the last quarter. Tranquility Partners LLC grew its stake in shares of Waste Connections by 1.4% in the first quarter. Tranquility Partners LLC now owns 4,354 shares of the business services provider’s stock valued at $850,000 after buying an additional 58 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Waste Connections by 29.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider’s stock worth $55,000 after purchasing an additional 64 shares during the last quarter. Oarsman Capital Inc. lifted its stake in Waste Connections by 41.4% in the fourth quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider’s stock valued at $38,000 after buying an additional 65 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in shares of Waste Connections by 28.9% in the 1st quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider’s stock worth $57,000 after acquiring an additional 65 shares during the period. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Price Performance

Shares of NYSE WCN opened at $182.37 on Friday. The firm’s 50-day simple moving average is $188.58 and its 200 day simple moving average is $188.00. The stock has a market cap of $47.12 billion, a P/E ratio of 75.05, a P/E/G ratio of 3.17 and a beta of 0.60. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, beating 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 firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the business earned $1.04 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts expect 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 given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Wednesday, May 7th. Waste Connections’s dividend payout ratio is presently 51.85%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. William Blair started coverage on shares of Waste Connections in a research note on Thursday, April 3rd. They issued an “outperform” rating on the stock. CIBC lowered their price target on shares of Waste Connections from $215.00 to $212.00 and set an “outperformer” rating for the company in a research report on Tuesday, July 8th. Melius assumed coverage on shares of Waste Connections in a research note on Monday, June 9th. They issued a “buy” rating for the company. Citigroup increased their price target on shares of Waste Connections from $209.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 29th. Finally, Truist Financial set a $220.00 target price on Waste Connections in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $213.93.

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.