Addenda Capital Inc. Has $35.86 Million Stock Position in Waste Connections, Inc. (NYSE:WCN)

Addenda Capital Inc. raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 208,978 shares of the business services provider’s stock after purchasing an additional 17,545 shares during the period. Waste Connections accounts for approximately 1.6% of Addenda Capital Inc.’s holdings, making the stock its 18th biggest holding. Addenda Capital Inc. owned about 0.08% of Waste Connections worth $35,856,000 at the end of the most recent quarter.

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

Waste Connections Stock Up 0.2 %

Waste Connections stock opened at $178.45 on Tuesday. The company has a fifty day simple moving average of $181.10 and a 200 day simple moving average of $180.85. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Waste Connections, Inc. has a 1-year low of $146.51 and a 1-year high of $194.83. The company has a market cap of $46.05 billion, a P/E ratio of 49.03, a price-to-earnings-growth ratio of 2.66 and a beta of 0.76.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. Waste Connections’s quarterly revenue was up 13.3% on a year-over-year basis. Research analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.315 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio is currently 34.62%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WCN shares. CIBC decreased their price objective on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. BMO Capital Markets decreased their price target on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Stifel Nicolaus raised their price objective on Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Citigroup boosted their target price on Waste Connections from $195.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their price target on Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

About Waste Connections

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.