Waste Connections, Inc. $WCN Shares Purchased by Addenda Capital Inc.

Key Points

• Addenda Capital increased its stake in Waste Connections by 4.9% in Q4, buying 10,377 shares to hold 220,427 shares worth $38,654,000 (about 0.09% of WCN and 1.4% of Addenda’s portfolio, its 22nd largest holding).
• Wall Street sentiment is broadly positive with a consensus Buy rating and an average price target of $203.52 (analyst targets cited range roughly $183–$210 and ratings include Strong Buy/Buy/Hold mix).
• In the most recent quarter WCN reported $1.29 EPS (beating by $0.01) and revenue of $2.35B (+5% y/y); shares trade around $163.11, the company has a market cap of $41.6B, and it pays a $1.40 annual dividend (0.9% yield).

Addenda Capital Inc. increased its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,427 shares of the business services provider's stock after purchasing an additional 10,377 shares during the quarter. Waste Connections accounts for approximately 1.4% of Addenda Capital Inc.'s investment portfolio, making the stock its 22nd largest holding. Addenda Capital Inc. owned 0.09% of Waste Connections worth $38,654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Greenleaf Trust acquired a new stake in shares of Waste Connections during the fourth quarter worth about $406,000. Palumbo Wealth Management LLC lifted its holdings in shares of Waste Connections by 1.6% during the fourth quarter. Palumbo Wealth Management LLC now owns 6,304 shares of the business services provider's stock worth $1,107,000 after purchasing an additional 100 shares during the period. Rathbones Group PLC lifted its holdings in shares of Waste Connections by 1.2% during the fourth quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider's stock worth $117,394,000 after purchasing an additional 7,866 shares during the period. Signaturefd LLC lifted its holdings in shares of Waste Connections by 9.6% during the fourth quarter. Signaturefd LLC now owns 3,199 shares of the business services provider's stock worth $561,000 after purchasing an additional 280 shares during the period. Finally, Savvy Advisors Inc. acquired a new stake in shares of Waste Connections during the fourth quarter worth about $447,000. Institutional investors and hedge funds own 86.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WCN. Canadian Imperial Bank of Commerce set a $208.00 target price on Waste Connections in a report on Thursday, January 8th. Citigroup reissued a "neutral" rating and issued a $183.00 price target (down from $196.00) on shares of Waste Connections in a report on Friday, January 16th. Royal Bank Of Canada reissued an "outperform" rating and issued a $210.00 price target (down from $219.00) on shares of Waste Connections in a report on Tuesday, February 17th. UBS Group set a $205.00 price target on Waste Connections in a report on Monday, January 5th. Finally, BNP Paribas Exane started coverage on Waste Connections in a report on Tuesday, January 6th. They issued an "outperform" rating for the company. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Waste Connections has a consensus rating of "Buy" and an average price target of $203.52.

Waste Connections Trading Down 0.5%

Shares of NYSE:WCN opened at $163.11 on Thursday. Waste Connections, Inc. has a 12-month low of $154.90 and a 12-month high of $199.78. The company has a market capitalization of $41.63 billion, a PE ratio of 39.11, a PEG ratio of 2.85 and a beta of 0.61. The business has a 50 day moving average of $165.62 and a two-hundred day moving average of $169.81. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.07.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.01. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the previous year, the company posted $1.16 earnings per share. Waste Connections's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Wednesday, February 25th were given a $0.35 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Waste Connections's payout ratio is 33.57%.

Waste Connections Company Profile

Waste Connections NYSE: WCN is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company's operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.

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