1,605 Shares in Waste Connections, Inc. (NYSE:WCN) Acquired by Boston Family Office LLC

Key Points

• Boston Family Office LLC acquired 1,605 shares of Waste Connections, Inc. (WCN), valuing approximately $313,000 during the 1st quarter.
• Waste Connections reported $1.29 earnings per share for the quarter, exceeding analysts' estimates, and revenues of $2.41 billion, showing a 7.1% increase year-over-year.
• The company announced a quarterly dividend of $0.315 per share, with a current annualized yield of 0.7%, and its payout ratio stands at 50.81%.

Boston Family Office LLC acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,605 shares of the business services provider's stock, valued at approximately $313,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Checchi Capital Advisers LLC lifted its stake in Waste Connections by 4.6% in the first quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider's stock valued at $249,000 after buying an additional 56 shares in the last quarter. MWA Asset Management lifted its stake in Waste Connections by 1.2% in the first quarter. MWA Asset Management now owns 4,783 shares of the business services provider's stock valued at $934,000 after buying an additional 57 shares in the last quarter. Tranquility Partners LLC lifted its stake in 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 stake in Waste Connections by 29.2% in the first quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock valued at $55,000 after buying an additional 64 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in Waste Connections by 28.9% in the first quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider's stock valued at $57,000 after buying an additional 65 shares in the last quarter. Institutional investors own 86.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on WCN shares. National Bank Financial raised shares of Waste Connections to a "strong-buy" rating in a research note on Monday, May 26th. CIBC reaffirmed an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. Raymond James Financial cut their price target on shares of 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. Melius Research raised shares of Waste Connections to a "strong-buy" rating and set a $213.00 price target on the stock in a research note on Monday, June 9th. Finally, Citigroup cut their price target on shares of Waste Connections from $208.00 to $204.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $215.00.

Waste Connections Price Performance

Shares of WCN opened at $184.78 on Friday. The company has a market cap of $47.75 billion, a price-to-earnings ratio of 74.51, a PEG 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 company's fifty day simple moving average is $185.91 and its 200 day simple moving average is $189.61. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCN - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 earnings per share. On average, research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

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

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.

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