Lake Street Financial LLC Purchases Shares of 7,133 Waste Connections, Inc. (NYSE:WCN)

Lake Street Financial LLC purchased a new stake in Waste Connections, Inc. (NYSE:WCN – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,133 shares of the business services provider’s stock, valued at approximately $999,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Yousif Capital Management LLC purchased a new position in shares of Waste Connections during the fourth quarter valued at approximately $552,000. CWM LLC purchased a new position in shares of Waste Connections during the fourth quarter valued at approximately $152,000. Raymond James Trust N.A. lifted its stake in shares of Waste Connections by 11.2% during the fourth quarter. Raymond James Trust N.A. now owns 2,749 shares of the business services provider’s stock valued at $375,000 after buying an additional 277 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Waste Connections by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 50,100 shares of the business services provider’s stock valued at $6,827,000 after buying an additional 230 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Waste Connections by 1.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 31,499 shares of the business services provider’s stock valued at $4,292,000 after buying an additional 346 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Atb Cap Markets raised shares of Waste Connections from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Morgan Stanley increased their price target on shares of Waste Connections from $146.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday. Oppenheimer set a $135.00 price target on shares of Waste Connections in a research note on Tuesday, July 19th. Raymond James increased their price target on shares of Waste Connections from $146.00 to $155.00 and gave the stock a “strong-buy” rating in a research note on Friday. Finally, BMO Capital Markets increased their price target on shares of Waste Connections from $143.00 to $151.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Waste Connections presently has an average rating of “Buy” and an average target price of $147.13.

Waste Connections Price Performance

WCN opened at $138.33 on Friday. The company has a fifty day simple moving average of $125.48 and a 200 day simple moving average of $128.63. The firm has a market cap of $35.57 billion, a price-to-earnings ratio of 52.40, a PEG ratio of 3.02 and a beta of 0.72. Waste Connections, Inc. has a twelve month low of $113.50 and a twelve month high of $145.62. The company has a current ratio of 0.94, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82.

Waste Connections (NYSE:WCN – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.61 billion. Waste Connections had a return on equity of 13.38% and a net margin of 10.25%. Waste Connections’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 earnings per share. Equities research analysts expect that Waste Connections, Inc. will post 3.7 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, August 17th. Waste Connections’s dividend payout ratio is currently 34.85%.

Waste Connections Profile

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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.