Lewis Asset Management LLC Decreases Stock Position in Waste Connections, Inc. (NYSE:WCN)

Lewis Asset Management LLC reduced its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,494 shares of the business services provider’s stock after selling 124 shares during the quarter. Lewis Asset Management LLC’s holdings in Waste Connections were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Global Trust Asset Management LLC acquired a new position in Waste Connections in the 3rd quarter valued at about $36,000. Asset Dedication LLC purchased a new position in shares of Waste Connections during the third quarter valued at approximately $41,000. Pathway Financial Advisers LLC acquired a new stake in Waste Connections during the first quarter worth approximately $43,000. Signature Resources Capital Management LLC purchased a new stake in Waste Connections in the 2nd quarter worth approximately $45,000. Finally, Carolinas Wealth Consulting LLC raised its holdings in Waste Connections by 3,885.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 272 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Up 1.6 %

NYSE WCN opened at $181.90 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 fifty-two week low of $129.31 and a fifty-two week high of $187.54. The business has a 50 day moving average price of $180.88 and a two-hundred day moving average price of $175.85. The stock has a market cap of $46.94 billion, a PE ratio of 49.97, a P/E/G ratio of 2.97 and a beta of 0.72.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. 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 firm earned $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 predict that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.69%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, November 7th. Waste Connections’s payout ratio is presently 31.32%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Oppenheimer raised their price objective on Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Stifel Nicolaus restated a “buy” rating and issued a $205.00 price target (up previously from $200.00) on shares of Waste Connections in a report on Friday, October 25th. BMO Capital Markets dropped their price objective on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Scotiabank began coverage on shares of Waste Connections in a research report on Friday, October 4th. They set a “sector perform” rating and a $196.00 price target for the company. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and an average target price of $195.56.

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.