NewEdge Wealth LLC Makes New $324,000 Investment in Waste Connections, Inc. (NYSE:WCN)

NewEdge Wealth LLC acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,169 shares of the business services provider’s stock, valued at approximately $324,000.

Several other hedge funds have also recently bought and sold shares of WCN. HighTower Advisors LLC lifted its position in Waste Connections by 36.0% during the first quarter. HighTower Advisors LLC now owns 10,714 shares of the business services provider’s stock worth $1,501,000 after acquiring an additional 2,835 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Waste Connections by 10.4% during the first quarter. Private Advisor Group LLC now owns 3,202 shares of the business services provider’s stock worth $448,000 after purchasing an additional 301 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Waste Connections by 39.5% during the first quarter. Vontobel Holding Ltd. now owns 11,747 shares of the business services provider’s stock worth $1,641,000 after purchasing an additional 3,328 shares during the period. Blair William & Co. IL increased its holdings in shares of Waste Connections by 34.9% during the first quarter. Blair William & Co. IL now owns 40,524 shares of the business services provider’s stock worth $5,661,000 after purchasing an additional 10,473 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Waste Connections by 6.2% during the first quarter. Sei Investments Co. now owns 133,034 shares of the business services provider’s stock worth $18,661,000 after purchasing an additional 7,734 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Waste Connections

In other Waste Connections news, Director Andrea E. Bertone sold 902 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $169.17, for a total value of $152,591.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Waste Connections Trading Up 0.0 %

WCN opened at $164.72 on Thursday. Waste Connections, Inc. has a 1-year low of $126.12 and a 1-year high of $173.02. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.88. The company has a market cap of $42.50 billion, a P/E ratio of 55.65, a price-to-earnings-growth ratio of 2.72 and a beta of 0.66. The company has a fifty day moving average price of $167.51 and a two-hundred day moving average price of $150.73.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Tuesday, February 13th. The business services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.03. Waste Connections had a net margin of 9.51% and a return on equity of 14.42%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. Analysts predict that Waste Connections, Inc. will post 4.85 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, February 27th. Waste Connections’s payout ratio is presently 38.51%.

Analyst Ratings Changes

Several research analysts have recently commented on WCN shares. Jefferies Financial Group raised their target price on shares of Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Oppenheimer raised their target price on shares of Waste Connections from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. StockNews.com raised shares of Waste Connections from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. CIBC lifted their price objective on shares of Waste Connections from $175.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, Citigroup lifted their price objective on shares of Waste Connections from $136.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.87.

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.