Kirtland Hills Capital Management LLC Takes $260,000 Position in Waste Connections, Inc. (NYSE:WCN)

Kirtland Hills Capital Management LLC bought a new stake in Waste Connections, Inc. (NYSE:WCN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,454 shares of the business services provider’s stock, valued at approximately $260,000.

A number of other institutional investors have also modified their holdings of WCN. Global Trust Asset Management LLC acquired a new position in shares of Waste Connections in the third quarter valued at approximately $36,000. Asset Dedication LLC acquired a new position in Waste Connections during the third quarter worth $41,000. Pathway Financial Advisers LLC acquired a new position in Waste Connections during the first quarter worth $43,000. Signature Resources Capital Management LLC acquired a new position in Waste Connections during the second quarter worth $45,000. Finally, Kennebec Savings Bank acquired a new position in Waste Connections during the third quarter worth $47,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Price Performance

NYSE WCN opened at $187.50 on Wednesday. Waste Connections, Inc. has a fifty-two week low of $130.33 and a fifty-two week high of $188.30. The stock’s 50-day moving average is $180.90 and its two-hundred day moving average is $177.26. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $48.39 billion, a P/E ratio of 51.51, a price-to-earnings-growth ratio of 3.06 and a beta of 0.72.

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

Waste Connections Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.315 dividend. The ex-dividend date was Thursday, November 7th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.67%. Waste Connections’s payout ratio is presently 34.62%.

Wall Street Analysts Forecast Growth

WCN has been the subject of several research analyst reports. Oppenheimer upped their price target on Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. CIBC upped their price target on Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research note on Friday, July 26th. Raymond James lowered their target price on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada increased their target price on Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $205.00 target price (up previously from $200.00) on shares of Waste Connections in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.56.

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.