Thoroughbred Financial Services LLC Has $756,000 Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Thoroughbred Financial Services LLC lowered its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 9.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,873 shares of the business services provider’s stock after selling 419 shares during the period. Thoroughbred Financial Services LLC’s holdings in Waste Connections were worth $756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. MWA Asset Management boosted its position in Waste Connections by 1.2% during the first quarter. MWA Asset Management now owns 4,783 shares of the business services provider’s stock valued at $934,000 after purchasing an additional 57 shares during the last quarter. Scotia Capital Inc. raised its stake in shares of Waste Connections by 9.1% during the 1st quarter. Scotia Capital Inc. now owns 371,532 shares of the business services provider’s stock worth $72,519,000 after purchasing an additional 31,136 shares in the last quarter. Bank of Nova Scotia Trust Co. lifted its holdings in shares of Waste Connections by 3.0% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 112,013 shares of the business services provider’s stock valued at $21,864,000 after buying an additional 3,257 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Waste Connections by 2.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 89,435 shares of the business services provider’s stock valued at $17,457,000 after buying an additional 1,715 shares in the last quarter. Finally, Alberta Investment Management Corp grew its stake in shares of Waste Connections by 9.0% in the 1st quarter. Alberta Investment Management Corp now owns 436,673 shares of the business services provider’s stock valued at $85,102,000 after buying an additional 36,005 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

WCN opened at $187.84 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. The stock’s 50 day moving average price is $186.82 and its two-hundred day moving average price is $189.19. The firm has a market capitalization of $48.54 billion, a P/E ratio of 75.74, a price-to-earnings-growth ratio of 3.37 and a beta of 0.58. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%. Waste Connections’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. On average, equities analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th will be issued a dividend of $0.315 per share. The ex-dividend date is Wednesday, August 6th. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. Waste Connections’s payout ratio is presently 50.81%.

Analyst Upgrades and Downgrades

WCN has been the subject of a number of analyst reports. Melius Research upgraded shares of Waste Connections to a “strong-buy” rating and set a $213.00 target price for the company in a research note on Monday, June 9th. National Bank Financial raised shares of Waste Connections to a “strong-buy” rating in a research note on Monday, May 26th. Royal Bank Of Canada lowered their target price on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Scotiabank raised their target price on Waste Connections from $202.00 to $208.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Finally, BMO Capital Markets upped their price target on Waste Connections from $214.00 to $216.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $215.00.

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.