Wealthfront Advisers LLC Raises Stake in Waste Connections, Inc. (NYSE:WCN)

Wealthfront Advisers LLC raised its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,458 shares of the business services provider's stock after purchasing 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 and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of WCN. Aster Capital Management DIFC Ltd acquired a new stake in Waste Connections in the fourth quarter valued at $28,000. Oarsman Capital Inc. increased its holdings in shares of Waste Connections by 41.4% in the 4th quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock valued at $38,000 after acquiring an additional 65 shares during the last quarter. Global Financial Private Client LLC raised its position in shares of Waste Connections by 890.0% during the 1st quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock worth $39,000 after acquiring an additional 178 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Waste Connections by 232.3% during the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock worth $41,000 after purchasing an additional 151 shares during the last quarter. Finally, Louisbourg Investments Inc. boosted its holdings in Waste Connections by 128.6% in the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock valued at $47,000 after purchasing an additional 135 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Performance

NYSE:WCN traded up $0.60 during midday trading on Friday, reaching $182.83. The stock had a trading volume of 1,095,675 shares, compared to its average volume of 1,029,206. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market cap of $47.24 billion, a P/E ratio of 37.34, a P/E/G ratio of 3.17 and a beta of 0.60. The firm has a fifty day simple moving average of $188.58 and a two-hundred day simple moving average of $188.00. 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 released its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.07 by $0.06. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter last year, the business earned $1.04 EPS. The business's revenue was up 7.5% on a year-over-year basis. On average, equities analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The firm 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 annualized dividend and a yield of 0.69%. The ex-dividend date was Wednesday, May 7th. Waste Connections's payout ratio is 51.85%.

Wall Street Analyst Weigh In

WCN has been the topic of a number of research analyst reports. Seaport Res Ptn raised shares of Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. BMO Capital Markets increased their target price on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. National Bank Financial raised shares of Waste Connections to a "strong-buy" rating in a research report on Monday, May 26th. Scotiabank decreased their price objective on shares of Waste Connections from $206.00 to $202.00 and set a "sector perform" rating for the company in a research note on Friday. Finally, Citigroup lifted their target price on Waste Connections from $209.00 to $212.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, Waste Connections currently has an average rating of "Buy" and a consensus price target of $213.57.

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.