Envestnet Asset Management Inc. Cuts Stock Position in Waste Connections, Inc. (NYSE:WCN)

Envestnet Asset Management Inc. lowered its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 455,991 shares of the business services provider's stock after selling 11,113 shares during the period. Envestnet Asset Management Inc. owned 0.18% of Waste Connections worth $88,980,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake 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 in the last quarter. Proficio Capital Partners LLC bought a new position in Waste Connections in the 4th quarter valued at about $387,000. Johnson Investment Counsel Inc. purchased a new position in shares of Waste Connections during the fourth quarter valued at approximately $247,000. PFG Advisors grew its stake in shares of Waste Connections by 0.7% in the 4th quarter. PFG Advisors now owns 16,562 shares of the business services provider's stock worth $2,840,000 after acquiring an additional 112 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Waste Connections by 9.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 6,410 shares of the business services provider's stock worth $1,100,000 after purchasing an additional 569 shares in the last quarter. 86.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WCN has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target on shares of Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Melius initiated coverage on shares of Waste Connections in a research note on Monday, June 9th. They issued a "buy" rating on the stock. Seaport Res Ptn upgraded Waste Connections to a "strong-buy" rating in a research report on Tuesday, May 6th. National Bank Financial raised Waste Connections to a "strong-buy" rating in a research note on Monday, May 26th. Finally, CIBC decreased their price target on shares of Waste Connections from $215.00 to $212.00 and set an "outperformer" rating on the stock in a research note on Tuesday. 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 company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $213.93.

Waste Connections Stock Up 0.8%

Shares of WCN traded up $1.42 on Friday, reaching $183.43. The stock had a trading volume of 1,389,814 shares, compared to its average volume of 1,071,340. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $47.40 billion, a price-to-earnings ratio of 37.30, a price-to-earnings-growth ratio of 3.16 and a beta of 0.60. The company has a 50-day simple moving average of $190.01 and a 200-day simple moving average of $187.61. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.06. Waste Connections had a return on equity of 15.74% and a net margin of 6.93%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. Waste Connections's quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were issued a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Wednesday, May 7th. Waste Connections's payout ratio is currently 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.