Crewe Advisors LLC Makes New Investment in Waste Connections, Inc. (NYSE:WCN)

Crewe Advisors LLC purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 23,500 shares of the business services provider’s stock, valued at approximately $4,202,000. Waste Connections accounts for about 0.5% of Crewe Advisors LLC’s holdings, making the stock its 28th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB raised its holdings in Waste Connections by 40.6% during the third quarter. Swedbank AB now owns 40,806 shares of the business services provider’s stock valued at $7,297,000 after acquiring an additional 11,774 shares during the period. Algert Global LLC purchased a new stake in shares of Waste Connections during the third quarter worth about $451,000. Kingsview Wealth Management LLC raised its stake in Waste Connections by 6.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,515 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 90 shares during the period. Cerity Partners LLC boosted its stake in Waste Connections by 86.7% in the 3rd quarter. Cerity Partners LLC now owns 10,932 shares of the business services provider’s stock worth $1,955,000 after purchasing an additional 5,078 shares during the period. Finally, Montrusco Bolton Investments Inc. raised its position in shares of Waste Connections by 15.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 2,303,339 shares of the business services provider’s stock valued at $401,936,000 after buying an additional 309,619 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Trading Up 0.5 %

Shares of Waste Connections stock opened at $189.87 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The company has a fifty day simple moving average of $181.07 and a 200-day simple moving average of $177.65. The stock has a market cap of $49.00 billion, a price-to-earnings ratio of 52.16, a PEG ratio of 3.15 and a beta of 0.72. Waste Connections, Inc. has a 12-month low of $132.15 and a 12-month high of $190.77.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Waste Connections’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a $0.315 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is currently 34.62%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WCN shares. Scotiabank initiated coverage on Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 target price on the stock. BMO Capital Markets lowered their target price on Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada boosted their price target on shares of Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Oppenheimer increased their price objective on shares of Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Citigroup boosted their target price on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $195.56.

Waste Connections 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.