Morey & Quinn Wealth Partners LLC Sells 215 Shares of Waste Connections, Inc. (NYSE:WCN)

Morey & Quinn Wealth Partners LLC trimmed its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,575 shares of the business services provider’s stock after selling 215 shares during the period. Waste Connections comprises about 1.1% of Morey & Quinn Wealth Partners LLC’s portfolio, making the stock its 19th largest position. Morey & Quinn Wealth Partners LLC’s holdings in Waste Connections were worth $1,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Waste Connections by 5.7% during the 4th quarter. Principal Financial Group Inc. now owns 2,036,856 shares of the business services provider’s stock worth $349,483,000 after acquiring an additional 109,701 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Waste Connections by 30.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,521 shares of the business services provider’s stock valued at $604,000 after buying an additional 829 shares in the last quarter. Palumbo Wealth Management LLC bought a new stake in shares of Waste Connections in the 4th quarter valued at about $479,000. Smartleaf Asset Management LLC boosted its holdings in shares of Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Waste Connections by 1,412.9% in the 4th quarter. Allworth Financial LP now owns 73,438 shares of the business services provider’s stock valued at $13,105,000 after buying an additional 68,584 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $190.60 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. Waste Connections, Inc. has a 12 month low of $167.51 and a 12 month high of $201.66. The company has a 50 day simple moving average of $193.90 and a two-hundred day simple moving average of $187.54. The stock has a market cap of $49.25 billion, a price-to-earnings ratio of 79.75, a PEG ratio of 3.07 and a beta of 0.62.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.07 by $0.06. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the business posted $1.04 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.66%. The ex-dividend date was Wednesday, May 7th. Waste Connections’s payout ratio is 51.85%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. William Blair assumed coverage on shares of Waste Connections in a report on Thursday, April 3rd. They issued an “outperform” rating on the stock. Citigroup raised their price target on shares of Waste Connections from $209.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, April 29th. Melius Research upgraded shares of Waste Connections to a “strong-buy” rating and set a $213.00 price target on the stock in a report on Monday, June 9th. National Bank Financial upgraded shares of Waste Connections to a “strong-buy” rating in a report on Monday, May 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Waste Connections from $197.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Waste Connections currently has an average rating of “Buy” and a consensus target price of $212.29.

Waste Connections 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.