Cumberland Partners Ltd Cuts Stock Holdings in Waste Connections, Inc. $WCN

Cumberland Partners Ltd reduced its stake in Waste Connections, Inc. (NYSE:WCN) by 82.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,150 shares of the business services provider’s stock after selling 29,810 shares during the period. Cumberland Partners Ltd’s holdings in Waste Connections were worth $1,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WCN. Asset Dedication LLC bought a new position in Waste Connections during the second quarter valued at approximately $28,000. Greykasell Wealth Strategies Inc. raised its holdings in shares of Waste Connections by 555.2% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock worth $33,000 after acquiring an additional 161 shares in the last quarter. AlphaCore Capital LLC bought a new position in shares of Waste Connections during the 2nd quarter valued at approximately $39,000. Caldwell Trust Co bought a new position in shares of Waste Connections during the 2nd quarter valued at approximately $49,000. Finally, TD Private Client Wealth LLC grew its holdings in shares of Waste Connections by 479.3% in the third quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 278 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WCN shares. Wells Fargo & Company assumed coverage on shares of Waste Connections in a research note on Thursday, November 13th. They set an “overweight” rating and a $186.00 price target on the stock. Morgan Stanley set a $205.00 price target on Waste Connections and gave the stock an “overweight” rating in a research report on Friday, February 13th. Sanford C. Bernstein restated an “outperform” rating and set a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Monday, January 5th. Stifel Nicolaus set a $213.00 price objective on Waste Connections and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, TD Cowen cut their target price on Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Waste Connections has a consensus rating of “Buy” and a consensus target price of $203.75.

Waste Connections Stock Performance

WCN stock opened at $162.66 on Thursday. The firm has a market cap of $41.59 billion, a price-to-earnings ratio of 39.01, a PEG ratio of 2.77 and a beta of 0.62. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.07. Waste Connections, Inc. has a twelve month low of $155.65 and a twelve month high of $201.66. The business’s fifty day simple moving average is $170.30 and its two-hundred day simple moving average is $173.99.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Analysts predict that Waste Connections, Inc. will post 5.28 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 12th. Stockholders of record on Wednesday, February 25th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, February 25th. Waste Connections’s dividend payout ratio is presently 33.57%.

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.