Cresset Asset Management LLC Sells 219 Shares of Waste Connections, Inc. (NYSE:WCN)

Cresset Asset Management LLC cut its holdings in Waste Connections, Inc. (NYSE:WCN) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,603 shares of the business services provider’s stock after selling 219 shares during the period. Cresset Asset Management LLC’s holdings in Waste Connections were worth $19,024,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Boston Family Office LLC bought a new position in shares of Waste Connections in the first quarter valued at approximately $313,000. LWM Advisory Services LLC grew its holdings in shares of Waste Connections by 2.5% in the first quarter. LWM Advisory Services LLC now owns 3,034 shares of the business services provider’s stock valued at $591,000 after acquiring an additional 75 shares in the last quarter. Sit Investment Associates Inc. grew its holdings in shares of Waste Connections by 0.3% in the first quarter. Sit Investment Associates Inc. now owns 62,736 shares of the business services provider’s stock valued at $12,245,000 after acquiring an additional 185 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Waste Connections by 95.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 117,100 shares of the business services provider’s stock valued at $22,857,000 after acquiring an additional 57,300 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Waste Connections by 6.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,656 shares of the business services provider’s stock valued at $1,494,000 after acquiring an additional 482 shares in the last quarter. 86.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Melius assumed coverage on Waste Connections in a research note on Monday, June 9th. They issued a “buy” rating on the stock. CIBC reiterated an “outperform” rating on shares of Waste Connections in a research note on Friday, July 25th. Melius Research upgraded Waste Connections to a “strong-buy” rating and set a $213.00 price objective on the stock in a research note on Monday, June 9th. Raymond James Financial dropped their price objective on Waste Connections from $224.00 to $211.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Waste Connections from $197.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $215.00.

Waste Connections Trading Up 0.0%

NYSE:WCN opened at $184.78 on Friday. The company has a market cap of $47.75 billion, a P/E ratio of 74.51, a P/E/G ratio of 3.33 and a beta of 0.58. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66. The stock’s fifty day moving average price is $185.91 and its two-hundred day moving average price is $189.61. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. As a group, analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th will be issued a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. Waste Connections’s dividend payout ratio is presently 50.81%.

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.