Waste Connections, Inc. (NYSE:WCN) Stock Holdings Cut by Carderock Capital Management Inc.

Carderock Capital Management Inc. lessened its position in Waste Connections, Inc. (NYSE:WCN) by 1.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,447 shares of the business services provider’s stock after selling 776 shares during the period. Waste Connections makes up 1.9% of Carderock Capital Management Inc.’s holdings, making the stock its 28th largest position. Carderock Capital Management Inc.’s holdings in Waste Connections were worth $7,455,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Merit Financial Group LLC bought a new stake in Waste Connections in the fourth quarter worth about $316,000. Avanza Fonder AB acquired a new position in shares of Waste Connections in the 4th quarter worth approximately $4,199,000. Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Waste Connections by 2.3% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 70,633 shares of the business services provider’s stock worth $12,111,000 after purchasing an additional 1,593 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Waste Connections by 16.7% during the fourth quarter. Park Avenue Securities LLC now owns 7,945 shares of the business services provider’s stock valued at $1,362,000 after purchasing an additional 1,135 shares during the last quarter. Finally, Tuttle Capital Management LLC boosted its holdings in Waste Connections by 34.6% during the fourth quarter. Tuttle Capital Management LLC now owns 2,302 shares of the business services provider’s stock worth $395,000 after buying an additional 592 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Trading Up 0.2 %

Waste Connections stock opened at $178.45 on Friday. Waste Connections, Inc. has a 12 month low of $146.51 and a 12 month high of $194.83. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock has a market cap of $46.05 billion, a P/E ratio of 49.03, a P/E/G ratio of 2.61 and a beta of 0.76. The company’s fifty day simple moving average is $181.21 and its 200-day simple moving average is $180.76.

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

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.315 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.71%. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio is currently 34.62%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WCN shares. Scotiabank initiated coverage on Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price target on the stock. Oppenheimer boosted their target price on Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Stifel Nicolaus increased their price target on Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Eight Capital raised Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. Finally, Citigroup upped their price objective on shares of Waste Connections from $195.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Connections currently has an average rating of “Moderate Buy” and an average target price of $199.75.

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.