Morey & Quinn Wealth Partners LLC Makes New $1.17 Million Investment in Waste Connections, Inc. (NYSE:WCN)

Morey & Quinn Wealth Partners LLC purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 6,790 shares of the business services provider’s stock, valued at approximately $1,165,000. Waste Connections makes up approximately 1.0% of Morey & Quinn Wealth Partners LLC’s investment portfolio, making the stock its 21st biggest position.

A number of other large investors also recently made changes to their positions in WCN. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Waste Connections by 5.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 239,630 shares of the business services provider’s stock valued at $41,116,000 after purchasing an additional 13,445 shares during the period. Signature Estate & Investment Advisors LLC raised its holdings in shares of Waste Connections by 4.4% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 11,161 shares of the business services provider’s stock worth $1,915,000 after buying an additional 466 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Waste Connections by 1.8% in the 4th quarter. TD Asset Management Inc. now owns 3,698,507 shares of the business services provider’s stock valued at $634,200,000 after purchasing an additional 65,795 shares in the last quarter. Modern Wealth Management LLC bought a new stake in Waste Connections during the fourth quarter worth about $243,000. Finally, Segall Bryant & Hamill LLC increased its holdings in Waste Connections by 8.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 64,762 shares of the business services provider’s stock valued at $11,112,000 after purchasing an additional 5,149 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Up 1.1 %

WCN opened at $193.07 on Wednesday. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $194.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. The business’s fifty day simple moving average is $186.24 and its 200 day simple moving average is $182.72. The stock has a market cap of $49.83 billion, a PE ratio of 80.78, a P/E/G ratio of 3.07 and a beta of 0.81.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. As a group, research analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, February 27th. Waste Connections’s dividend payout ratio (DPR) is 52.72%.

Analysts Set New Price Targets

Several research analysts have issued reports on WCN shares. Scotiabank reduced their price objective on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a report on Monday, January 27th. CIBC lowered their price objective on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Oppenheimer boosted their price target on shares of Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. StockNews.com downgraded shares of Waste Connections from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Morgan Stanley boosted their target price on Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $202.43.

Waste Connections Company 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.