Waste Connections Announces 3-for-2 Stock Split; Positive Momentum Continues in First Quarter
Following first-quarter results, we reaffirm our belief that narrow-moat Waste Connections is one of the highest quality waste names we cover; yet, the market’s exuberance over the company’s growth story has long kept shares in a premium-priced zone. We’re raising our fair value estimate to $75 per share as the company keeps beating its own expectations; however, we caution investors that shares appear to be priced for perfection, and the cyclical waste industry often affords investors better en...Waste Connections is a solid waste services company in North America, providing waste collection, transfer, disposal and recycling services in mostly exclusive and secondary markets in the U.S. and Canada. Through its R360 Environmental Solutions subsidiary, Co. is also a provider of non-hazardous exploration and production (E&P), waste treatment, recovery and disposal services in several of the natural resource producing areas in the U.S. Co. also provides intermodal services for the rail haul movement of cargo and solid waste containers in the Pacific Northwest through a network of intermodal facilities.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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