MAI Capital Management Acquires 8,498 Shares of Waste Connections, Inc. $WCN

MAI Capital Management grew its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 662.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,781 shares of the business services provider’s stock after acquiring an additional 8,498 shares during the quarter. MAI Capital Management’s holdings in Waste Connections were worth $1,720,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Asset Dedication LLC bought a new stake in Waste Connections in the second quarter worth $28,000. Greykasell Wealth Strategies Inc. increased its holdings in shares of Waste Connections by 555.2% in the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock worth $33,000 after buying an additional 161 shares during the period. AlphaCore Capital LLC purchased a new position in shares of Waste Connections in the second quarter worth about $39,000. Caldwell Trust Co bought a new stake in shares of Waste Connections in the 2nd quarter valued at about $49,000. Finally, TD Private Client Wealth LLC boosted its holdings in Waste Connections by 479.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 278 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WCN shares. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on Waste Connections in a research report on Friday, February 13th. Stifel Nicolaus set a $213.00 target price on shares of Waste Connections and gave the stock a “buy” rating in a research note on Friday, February 13th. Wells Fargo & Company initiated coverage on shares of Waste Connections in a research report on Thursday, November 13th. They set an “overweight” rating and a $186.00 price target for the company. UBS Group set a $205.00 price target on shares of Waste Connections in a report on Monday, January 5th. Finally, Barclays set a $176.00 target price on shares of Waste Connections and gave the stock an “equal weight” rating in a report on Friday, February 13th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $203.75.

Waste Connections Stock Up 1.6%

Shares of NYSE WCN opened at $172.06 on Friday. The firm has a fifty day simple moving average of $169.16 and a two-hundred day simple moving average of $172.94. Waste Connections, Inc. has a 12 month low of $155.65 and a 12 month high of $201.66. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $43.99 billion, a PE ratio of 41.26, a price-to-earnings-growth ratio of 2.96 and a beta of 0.62.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. Waste Connections’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Wednesday, February 25th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, February 25th. Waste Connections’s dividend payout ratio is presently 33.57%.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.