Lazard Asset Management LLC purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN – Get Rating) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,953 shares of the business services provider’s stock, valued at approximately $402,000.
Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new stake in Waste Connections during the 4th quarter worth $29,000. Vestor Capital LLC purchased a new position in Waste Connections in the 3rd quarter valued at about $41,000. Ten Capital Wealth Advisors LLC purchased a new position in Waste Connections in the 4th quarter valued at about $54,000. Covea Finance purchased a new position in Waste Connections in the 4th quarter valued at about $68,000. Finally, Lindbrook Capital LLC boosted its position in Waste Connections by 1,279.4% in the 4th quarter. Lindbrook Capital LLC now owns 938 shares of the business services provider’s stock valued at $128,000 after buying an additional 870 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.
WCN has been the subject of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Waste Connections in a research report on Tuesday, March 1st. They issued an “overweight” rating for the company. StockNews.com initiated coverage on shares of Waste Connections in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Royal Bank of Canada upped their price objective on shares of Waste Connections from $147.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, February 18th. Scotiabank cut shares of Waste Connections from a “sector outperform” rating to a “sector perform” rating and set a $135.00 price objective for the company. in a research report on Thursday, April 7th. Finally, Raymond James upped their target price on shares of Waste Connections from $145.00 to $160.00 and gave the company a “strong-buy” rating in a research note on Friday, April 22nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $142.38.
Waste Connections (NYSE:WCN – Get Rating) last released 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 business 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 12.72% and a net margin of 9.97%. Waste Connections’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. On average, equities analysts predict that Waste Connections, Inc. will post 3.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Wednesday, May 18th will be paid a dividend of $0.23 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, May 17th. This represents a $0.92 annualized dividend and a yield of 0.73%. Waste Connections’s dividend payout ratio is 37.55%.
Waste Connections Profile (Get Rating)
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.
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