Opal Wealth Advisors LLC Acquires New Stake in Waste Connections, Inc. (NYSE:WCN)

Opal Wealth Advisors LLC acquired a new stake in Waste Connections, Inc. (NYSE:WCN) during the first quarter, according to its most recent filing with the SEC. The firm acquired 373 shares of the business services provider’s stock, valued at approximately $73,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manchester Capital Management LLC acquired a new stake in Waste Connections in the fourth quarter valued at $26,000. Private Trust Co. NA boosted its position in shares of Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after purchasing an additional 92 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Waste Connections during the 4th quarter worth $28,000. Smartleaf Asset Management LLC boosted its position in shares of Waste Connections by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Finally, Oarsman Capital Inc. boosted its position in shares of Waste Connections by 41.4% during the 4th quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider’s stock worth $38,000 after purchasing an additional 65 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WCN shares. Scotiabank boosted their target price on shares of Waste Connections from $192.00 to $207.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 8th. Melius started coverage on shares of Waste Connections in a research report on Monday, June 9th. They set a “buy” rating on the stock. Citigroup boosted their target price on shares of Waste Connections from $209.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 29th. Seaport Res Ptn raised Waste Connections to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, National Bank Financial raised Waste Connections to a “strong-buy” rating in a research note on Monday, May 26th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $212.29.

Waste Connections Trading Down 0.4%

NYSE WCN opened at $190.60 on Monday. Waste Connections, Inc. has a 12 month low of $167.51 and a 12 month high of $201.66. The company has a 50-day moving average of $193.90 and a 200-day moving average of $187.50. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $49.25 billion, a P/E ratio of 79.75, a P/E/G ratio of 3.07 and a beta of 0.62.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.06. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the company posted $1.04 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities 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 announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Wednesday, May 7th. Waste Connections’s dividend payout ratio (DPR) is presently 51.85%.

Waste Connections 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.