Mackenzie Financial Corp Raises Stake in Waste Connections, Inc. $WCN

Mackenzie Financial Corp grew its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 17.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,136,218 shares of the business services provider’s stock after buying an additional 918,245 shares during the period. Waste Connections accounts for approximately 1.3% of Mackenzie Financial Corp’s portfolio, making the stock its 14th largest holding. Mackenzie Financial Corp owned approximately 2.40% of Waste Connections worth $1,078,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Dedication LLC bought a new position in shares of Waste Connections in the second quarter worth $28,000. Greykasell Wealth Strategies Inc. raised its position 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 in the last quarter. AlphaCore Capital LLC bought a new stake in Waste Connections during the second quarter valued at $39,000. Caldwell Trust Co bought a new stake in Waste Connections during the second quarter valued at $49,000. Finally, TD Private Client Wealth LLC grew its position in Waste Connections by 479.3% during the third quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock worth $59,000 after buying an additional 278 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Price Performance

WCN opened at $165.67 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.62 and a quick ratio of 0.62. The stock’s 50 day simple moving average is $168.14 and its 200 day simple moving average is $172.11. The firm has a market cap of $42.36 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 2.95 and a beta of 0.62. Waste Connections, Inc. has a 1 year low of $155.65 and a 1 year high of $201.66.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share 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 during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the business posted $1.16 earnings per share. Waste Connections’s revenue for the quarter was up 5.0% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, February 25th. Waste Connections’s dividend payout ratio is currently 33.57%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Stifel Nicolaus set a $213.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a research report on Friday, February 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $210.00 target price (down from $219.00) on shares of Waste Connections in a research report on Tuesday, February 17th. BNP Paribas Exane began coverage on shares of Waste Connections in a report on Tuesday, January 6th. They issued an “outperform” rating on the stock. TD Cowen lowered their price objective on shares of Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, Barclays set a $176.00 price objective on shares of Waste Connections and gave the stock an “equal weight” rating in a report on Friday, February 13th. Four investment 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 currently has a consensus rating of “Buy” and a consensus price target of $203.75.

Waste Connections Company Profile

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.