MAI Capital Management Increases Position in Waste Connections, Inc. $WCN

MAI Capital Management raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 662.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,781 shares of the business services provider’s stock after purchasing an additional 8,498 shares during the period. MAI Capital Management’s holdings in Waste Connections were worth $1,720,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new position in Waste Connections during the 1st quarter valued at approximately $577,000. World Investment Advisors purchased a new stake in shares of Waste Connections in the second quarter worth $396,000. Arkadios Wealth Advisors increased its holdings in shares of Waste Connections by 10.0% during the second quarter. Arkadios Wealth Advisors now owns 1,613 shares of the business services provider’s stock valued at $301,000 after acquiring an additional 147 shares in the last quarter. Assetmark Inc. raised its position in shares of Waste Connections by 84.2% in the 2nd quarter. Assetmark Inc. now owns 1,413 shares of the business services provider’s stock worth $264,000 after purchasing an additional 646 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in Waste Connections by 1.0% in the 2nd quarter. Atria Investments Inc now owns 8,016 shares of the business services provider’s stock worth $1,497,000 after purchasing an additional 81 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Price Performance

NYSE WCN opened at $172.06 on Friday. The stock has a market capitalization of $43.99 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 2.96 and a beta of 0.62. Waste Connections, Inc. has a 1-year low of $155.65 and a 1-year high of $201.66. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.62 and a quick ratio of 0.62. The business’s fifty day moving average price is $169.16 and its 200-day moving average price is $172.94.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 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 analysts’ expectations of $2.37 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. Waste Connections’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Wednesday, February 25th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is presently 33.57%.

Analysts Set New Price Targets

A number of analysts have weighed in on WCN shares. Barclays set a $176.00 price objective on shares of Waste Connections and gave the company an “equal weight” rating in a research note on Friday, February 13th. JPMorgan Chase & Co. decreased their price objective on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Scotiabank set a $197.00 price objective on Waste Connections and gave the company a “sector outperform” rating in a research report on Friday, February 13th. Royal Bank Of Canada reissued an “outperform” rating and issued a $210.00 target price (down from $219.00) on shares of Waste Connections in a report on Tuesday, February 17th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $205.00 price target (up from $200.00) on shares of Waste Connections in a report on Monday, January 5th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $203.75.

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.