Parr Mcknight Wealth Management Group LLC Acquires 595 Shares of Waste Connections, Inc. (NYSE:WCN)

Parr Mcknight Wealth Management Group LLC boosted its holdings in Waste Connections, Inc. (NYSE:WCN) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,781 shares of the business services provider’s stock after buying an additional 595 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Waste Connections were worth $1,324,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WCN. Smartleaf Asset Management LLC raised its holdings in Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock valued at $33,000 after buying an additional 71 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Waste Connections during the 4th quarter valued at approximately $387,000. Johnson Investment Counsel Inc. acquired a new stake in Waste Connections during the 4th quarter valued at approximately $247,000. PFG Advisors increased its position in Waste Connections by 0.7% during the 4th quarter. PFG Advisors now owns 16,562 shares of the business services provider’s stock valued at $2,840,000 after purchasing an additional 112 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in Waste Connections by 9.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 6,410 shares of the business services provider’s stock valued at $1,100,000 after purchasing an additional 569 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

NYSE WCN opened at $182.03 on Friday. The company has a fifty day simple moving average of $190.01 and a 200 day simple moving average of $187.61. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market cap of $47.03 billion, a P/E ratio of 74.91, a PEG ratio of 3.17 and a beta of 0.60.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.06. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the firm posted $1.04 EPS. Waste Connections’s revenue was up 7.5% compared to the same quarter last year. Sell-side analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Wednesday, May 7th. Waste Connections’s payout ratio is currently 51.85%.

Analyst Ratings Changes

A number of research firms have weighed in on WCN. National Bank Financial raised shares of Waste Connections to a “strong-buy” rating in a research report on Monday, May 26th. JPMorgan Chase & Co. increased their target price on shares of Waste Connections from $197.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. Oppenheimer increased their target price on shares of Waste Connections from $216.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial set a $220.00 target price on shares of Waste Connections in a research report on Friday, April 25th. Finally, Melius Research raised shares of Waste Connections to a “strong-buy” rating and set a $213.00 target price for the company in a research report on Monday, June 9th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $213.93.

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.