Clarendon Private LLC Makes New Investment in Waste Connections, Inc. (NYSE:WCN)

Clarendon Private LLC acquired a new stake in Waste Connections, Inc. (NYSE:WCN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,643 shares of the business services provider’s stock, valued at approximately $282,000.

A number of other hedge funds also recently modified their holdings of WCN. Principal Financial Group Inc. lifted its position in Waste Connections by 307.1% during the third quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock worth $344,615,000 after acquiring an additional 1,453,733 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Waste Connections by 432.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,259,312 shares of the business services provider’s stock worth $225,078,000 after purchasing an additional 1,022,851 shares during the period. National Bank of Canada FI lifted its holdings in Waste Connections by 35.3% during the 3rd quarter. National Bank of Canada FI now owns 2,678,562 shares of the business services provider’s stock worth $478,777,000 after purchasing an additional 699,012 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Waste Connections by 44.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,964,082 shares of the business services provider’s stock valued at $351,037,000 after purchasing an additional 602,055 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Waste Connections by 199.4% in the 3rd quarter. Two Sigma Advisers LP now owns 591,250 shares of the business services provider’s stock valued at $105,727,000 after buying an additional 393,763 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Trading Down 0.9 %

WCN opened at $177.86 on Friday. The company has a market cap of $45.90 billion, a P/E ratio of 48.86, a PEG ratio of 2.67 and a beta of 0.76. 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’s 50 day moving average is $180.40 and its 200-day moving average is $180.85. Waste Connections, Inc. has a 1-year low of $151.32 and a 1-year high of $194.83.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Eight Capital raised Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Citigroup lifted their price objective 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. BMO Capital Markets decreased their target price on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Morgan Stanley lifted their price target on shares of Waste Connections from $206.00 to $214.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reduced their price target on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.31.

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.