Waste Connections, Inc. $WCN is Montrusco Bolton Investments Inc.’s 7th Largest Position

Montrusco Bolton Investments Inc. reduced its stake in Waste Connections, Inc. (NYSE:WCN) by 2.3% during the third quarter, HoldingsChannel.com reports. The firm owned 2,252,933 shares of the business services provider’s stock after selling 53,769 shares during the quarter. Waste Connections makes up about 4.5% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 7th largest holding. Montrusco Bolton Investments Inc.’s holdings in Waste Connections were worth $384,238,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Waste Connections in the first quarter worth $577,000. Envestnet Asset Management Inc. grew its position in Waste Connections by 2.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 467,549 shares of the business services provider’s stock valued at $87,274,000 after purchasing an additional 11,558 shares during the last quarter. Bessemer Group Inc. increased its stake in Waste Connections by 1.6% during the 2nd quarter. Bessemer Group Inc. now owns 15,138 shares of the business services provider’s stock valued at $2,827,000 after purchasing an additional 239 shares in the last quarter. GWN Securities Inc. purchased a new position in Waste Connections in the second quarter worth about $424,000. Finally, World Investment Advisors bought a new position in shares of Waste Connections in the second quarter worth approximately $396,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Waste Connections in a research report on Monday, November 24th. They set a “buy” rating and a $202.00 price target for the company. Barclays set a $176.00 target price on Waste Connections and gave the stock an “equal weight” rating in a report on Friday, February 13th. Stifel Nicolaus set a $213.00 price target on Waste Connections and gave the company a “buy” rating in a report on Friday, February 13th. UBS Group set a $205.00 price objective on Waste Connections in a report on Monday, January 5th. Finally, Wells Fargo & Company initiated coverage on Waste Connections in a research report on Thursday, November 13th. They issued an “overweight” rating and a $186.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Waste Connections has a consensus rating of “Buy” and an average target price of $203.75.

Waste Connections Trading Up 0.7%

Waste Connections stock opened at $166.69 on Thursday. Waste Connections, Inc. has a 52-week low of $155.65 and a 52-week high of $201.66. The company has a market cap of $42.62 billion, a P/E ratio of 39.97, a P/E/G ratio of 2.84 and a beta of 0.62. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.07. The business has a 50-day simple moving average of $169.35 and a two-hundred day simple moving average of $173.19.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.37 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. Analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Wednesday, February 25th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, February 25th. Waste Connections’s dividend payout ratio (DPR) is currently 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.