Palumbo Wealth Management LLC Invests $479,000 in Waste Connections, Inc. (NYSE:WCN)

Palumbo Wealth Management LLC bought a new position in Waste Connections, Inc. (NYSE:WCN) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 2,795 shares of the business services provider’s stock, valued at approximately $479,000.

Other large investors have also recently made changes to their positions in the company. Manchester Capital Management LLC bought a new stake in shares of Waste Connections in the 4th quarter worth about $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Waste Connections in the 4th quarter worth about $27,000. Global Trust Asset Management LLC bought a new stake in shares of Waste Connections in the 3rd quarter worth about $36,000. FSA Wealth Management LLC bought a new stake in shares of Waste Connections in the 3rd quarter worth about $40,000. Finally, Continuum Advisory LLC grew its holdings in Waste Connections by 58.0% during the 3rd quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 83 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WCN has been the topic of several analyst reports. Truist Financial reiterated a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a report on Friday. Oppenheimer upped their price target on shares of Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Jefferies Financial Group cut their price target on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Raymond James cut their price target on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Finally, CIBC cut their price target on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

Waste Connections Price Performance

Waste Connections stock opened at $189.08 on Friday. The firm has a 50-day moving average of $179.36 and a two-hundred day moving average of $181.63. Waste Connections, Inc. has a 1 year low of $160.34 and a 1 year high of $194.83. The stock has a market cap of $48.79 billion, a price-to-earnings ratio of 51.94, a price-to-earnings-growth ratio of 2.97 and a beta of 0.77. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. On average, research analysts forecast that Waste Connections, Inc. will post 4.83 earnings per share for the current year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be given a $0.315 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.26 annualized dividend and a dividend yield of 0.67%. Waste Connections’s payout ratio is presently 52.72%.

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.