Waste Connections, Inc. (NYSE:WCN) Shares Bought by JCIC Asset Management Inc.

JCIC Asset Management Inc. grew its stake in Waste Connections, Inc. (NYSE:WCN) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,887 shares of the business services provider’s stock after purchasing an additional 515 shares during the quarter. Waste Connections makes up approximately 2.5% of JCIC Asset Management Inc.’s holdings, making the stock its 12th biggest holding. JCIC Asset Management Inc.’s holdings in Waste Connections were worth $6,152,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Global Trust Asset Management LLC acquired a new stake in Waste Connections during the third quarter valued at approximately $36,000. FSA Wealth Management LLC bought a new stake in shares of Waste Connections in the 3rd quarter valued at approximately $40,000. Asset Dedication LLC acquired a new stake in shares of Waste Connections during the 3rd quarter valued at approximately $41,000. Continuum Advisory LLC lifted its stake in Waste Connections by 58.0% during the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock worth $42,000 after purchasing an additional 83 shares during the last quarter. Finally, Kennebec Savings Bank acquired a new position in Waste Connections in the third quarter worth $47,000. Institutional investors own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

WCN has been the topic of a number of recent research reports. Eight Capital upgraded shares of Waste Connections to a “hold” rating in a research report on Wednesday, October 9th. BMO Capital Markets decreased their target price on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. CIBC cut their price target on Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Scotiabank started coverage on Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waste Connections currently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Waste Connections Stock Up 0.8 %

Shares of WCN stock traded up $1.45 on Monday, reaching $176.25. 484,731 shares of the company’s stock traded hands, compared to its average volume of 914,570. Waste Connections, Inc. has a 12-month low of $145.35 and a 12-month high of $194.83. The company has a market capitalization of $45.48 billion, a P/E ratio of 48.42, a price-to-earnings-growth ratio of 3.00 and a beta of 0.76. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. The business’s 50 day moving average price is $181.43 and its two-hundred day moving average price is $180.80.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping 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 analysts’ expectations of $2.30 billion. During the same period last year, the company posted $1.17 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts forecast that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.315 dividend. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, November 7th. Waste Connections’s dividend payout ratio is presently 34.62%.

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.