Brooklyn Investment Group Buys Shares of 280 Waste Connections, Inc. (NYSE:WCN)

Brooklyn Investment Group purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 280 shares of the business services provider’s stock, valued at approximately $50,000.

Other institutional investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC acquired a new position in shares of Waste Connections during the 3rd quarter worth approximately $36,000. Asset Dedication LLC acquired a new position in shares of Waste Connections during the 3rd quarter worth approximately $41,000. Pathway Financial Advisers LLC acquired a new position in shares of Waste Connections during the 1st quarter worth approximately $43,000. Signature Resources Capital Management LLC acquired a new position in shares of Waste Connections during the 2nd quarter worth approximately $45,000. Finally, Kennebec Savings Bank acquired a new position in shares of Waste Connections during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Price Performance

Shares of WCN stock opened at $192.47 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Waste Connections, Inc. has a twelve month low of $132.65 and a twelve month high of $194.83. The company has a market cap of $49.67 billion, a P/E ratio of 52.88, a P/E/G ratio of 3.22 and a beta of 0.72. The business has a fifty day simple moving average of $182.31 and a 200 day simple moving average of $178.50.

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

Waste Connections Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.315 per share. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, November 7th. Waste Connections’s dividend payout ratio is currently 34.62%.

Wall Street Analyst Weigh In

WCN has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $205.00 target price (up from $200.00) on shares of Waste Connections in a report on Friday, October 25th. Raymond James decreased their target price on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Scotiabank initiated coverage on Waste Connections in a report on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price on the stock. Finally, Citigroup boosted their target price on Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Connections has a consensus rating of “Moderate Buy” and a consensus price target of $195.56.

About Waste Connections

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.