Signature Estate & Investment Advisors LLC Increases Stock Position in Waste Connections, Inc. (NYSE:WCN)


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Signature Estate & Investment Advisors LLC lifted its holdings in Waste Connections, Inc. (NYSE:WCN) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,332 shares of the business services provider’s stock after purchasing an additional 730 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Waste Connections were worth $1,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Tandem Investment Advisors Inc. lifted its position in shares of Waste Connections by 21.5% in the 4th quarter. Tandem Investment Advisors Inc. now owns 165,258 shares of the business services provider’s stock worth $16,951,000 after purchasing an additional 29,209 shares during the period. OneAscent Financial Services LLC lifted its position in Waste Connections by 24.5% during the fourth quarter. OneAscent Financial Services LLC now owns 5,555 shares of the business services provider’s stock valued at $570,000 after acquiring an additional 1,094 shares during the last quarter. NuWave Investment Management LLC lifted its position in Waste Connections by 70.4% during the fourth quarter. NuWave Investment Management LLC now owns 1,919 shares of the business services provider’s stock valued at $197,000 after acquiring an additional 793 shares during the last quarter. Red Spruce Capital LLC lifted its position in Waste Connections by 18.3% during the fourth quarter. Red Spruce Capital LLC now owns 4,321 shares of the business services provider’s stock valued at $443,000 after acquiring an additional 668 shares during the last quarter. Finally, Wetherby Asset Management Inc. purchased a new stake in Waste Connections during the third quarter valued at approximately $583,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Waste Connections from a “neutral” rating to an “overweight” rating and increased their target price for the company from $103.00 to $108.00 in a research report on Wednesday, September 23rd. Royal Bank of Canada increased their target price on shares of Waste Connections from $122.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Oppenheimer reissued a “buy” rating on shares of Waste Connections in a research report on Thursday, September 17th. Raymond James increased their target price on shares of Waste Connections from $118.00 to $120.00 and gave the company a “strong-buy” rating in a research report on Friday, January 8th. Finally, Morgan Stanley upped their price target on shares of Waste Connections from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, January 6th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Waste Connections currently has an average rating of “Buy” and a consensus target price of $111.86.

Shares of NYSE:WCN traded down $0.22 during midday trading on Wednesday, reaching $102.77. The company’s stock had a trading volume of 1,043,974 shares, compared to its average volume of 951,947. The firm has a market capitalization of $27.02 billion, a PE ratio of 131.76, a P/E/G ratio of 4.95 and a beta of 0.44. Waste Connections, Inc. has a twelve month low of $70.87 and a twelve month high of $111.04. The stock has a fifty day moving average of $102.55 and a 200 day moving average of $101.48. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.73.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, October 28th. The business services provider reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. Waste Connections had a net margin of 3.83% and a return on equity of 10.44%. Sell-side analysts anticipate that Waste Connections, Inc. will post 2.5 earnings per share for the current fiscal year.

In related news, VP Matthew Stephen Black sold 2,100 shares of the firm’s stock in a transaction on Monday, December 7th. The shares were sold at an average price of $102.24, for a total transaction of $214,704.00. Following the sale, the vice president now owns 28,035 shares in the company, valued at $2,866,298.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

About Waste Connections

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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