Waste Connections Inc (WCN) Stake Lessened by Brasada Capital Management LP

Brasada Capital Management LP cut its holdings in shares of Waste Connections Inc (NYSE:WCN) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,595 shares of the business services provider’s stock after selling 2,589 shares during the quarter. Waste Connections makes up 3.1% of Brasada Capital Management LP’s investment portfolio, making the stock its 3rd largest holding. Brasada Capital Management LP’s holdings in Waste Connections were worth $10,241,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC bought a new position in shares of Waste Connections during the 4th quarter worth $30,000. Resources Investment Advisors Inc. bought a new position in shares of Waste Connections during the 4th quarter worth $32,000. Essex Savings Bank bought a new position in shares of Waste Connections during the 4th quarter worth $33,000. Rehmann Capital Advisory Group grew its stake in shares of Waste Connections by 3,300.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 442 shares of the business services provider’s stock worth $33,000 after acquiring an additional 429 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in shares of Waste Connections by 49.0% during the 4th quarter. Proficio Capital Partners LLC now owns 465 shares of the business services provider’s stock worth $35,000 after acquiring an additional 153 shares during the period. 84.73% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE WCN opened at $92.21 on Tuesday. Waste Connections Inc has a 52 week low of $70.28 and a 52 week high of $93.10. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $24.16 billion, a price-to-earnings ratio of 36.59, a P/E/G ratio of 2.58 and a beta of 0.26.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, April 24th. The business services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Waste Connections had a return on equity of 10.58% and a net margin of 10.89%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $0.56 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, equities analysts forecast that Waste Connections Inc will post 2.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.64 annualized dividend and a yield of 0.69%. Waste Connections’s dividend payout ratio is currently 25.40%.

Several research analysts have recently weighed in on WCN shares. Bank of America increased their price target on Waste Connections from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, February 14th. ValuEngine upgraded Waste Connections from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. UBS Group raised their target price on Waste Connections from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Stifel Nicolaus upgraded Waste Connections from a “hold” rating to a “buy” rating and raised their target price for the stock from $88.00 to $105.00 in a research note on Thursday, April 25th. Finally, Zacks Investment Research upgraded Waste Connections from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Waste Connections presently has an average rating of “Buy” and an average price target of $95.40.

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About Waste Connections

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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