Palumbo Wealth Management LLC Makes New $479,000 Investment in Waste Connections, Inc. (NYSE:WCN)

Palumbo Wealth Management LLC bought a new position in Waste Connections, Inc. (NYSE:WCN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,795 shares of the business services provider’s stock, valued at approximately $479,000.

Other large investors have also added to or reduced their stakes in the company. Versor Investments LP grew its position in Waste Connections by 75.1% in the 3rd quarter. Versor Investments LP now owns 8,221 shares of the business services provider’s stock worth $1,470,000 after purchasing an additional 3,527 shares during the period. Blueshift Asset Management LLC bought a new stake in Waste Connections in the 3rd quarter worth approximately $552,000. Dynamic Technology Lab Private Ltd bought a new stake in Waste Connections in the 3rd quarter worth approximately $2,503,000. Barclays PLC boosted its stake in shares of Waste Connections by 34.3% during the 3rd quarter. Barclays PLC now owns 303,040 shares of the business services provider’s stock worth $54,190,000 after acquiring an additional 77,466 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its stake in shares of Waste Connections by 65.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 3,034 shares of the business services provider’s stock worth $543,000 after acquiring an additional 1,202 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $189.08 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $48.79 billion, a P/E ratio of 51.94, a P/E/G ratio of 2.97 and a beta of 0.77. The firm’s fifty day moving average is $179.36 and its two-hundred day moving average is $181.63. Waste Connections, Inc. has a 52-week low of $160.34 and a 52-week high of $194.83.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. As a group, analysts anticipate that Waste Connections, Inc. will post 4.83 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be issued a $0.315 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a yield of 0.67%. Waste Connections’s dividend payout ratio is currently 52.72%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WCN shares. BMO Capital Markets dropped their price target on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Citigroup lifted their price target on shares of Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Jefferies Financial Group dropped their price target on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. CIBC dropped their price target on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, Stifel Nicolaus lifted their price target on shares of Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.00.

Waste Connections Company Profile

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.