Waste Connections, Inc. (NYSE:WCN) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC increased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,569 shares of the business services provider’s stock after purchasing an additional 414 shares during the period. NewEdge Advisors LLC’s holdings in Waste Connections were worth $1,470,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Fifth Third Bancorp increased its holdings in shares of Waste Connections by 8.8% in the 4th quarter. Fifth Third Bancorp now owns 705 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 57 shares during the last quarter. Jennison Associates LLC increased its stake in Waste Connections by 0.4% in the fourth quarter. Jennison Associates LLC now owns 14,247 shares of the business services provider’s stock valued at $2,445,000 after purchasing an additional 63 shares during the last quarter. Oarsman Capital Inc. raised its holdings in Waste Connections by 41.4% during the fourth 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. Smartleaf Asset Management LLC lifted 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 buying an additional 71 shares during the last quarter. Finally, Inspire Advisors LLC boosted its holdings in shares of Waste Connections by 2.3% in the 4th quarter. Inspire Advisors LLC now owns 3,943 shares of the business services provider’s stock valued at $676,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on WCN. Truist Financial reissued a “buy” rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. Citigroup reduced their target price on Waste Connections from $218.00 to $209.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group cut their target price on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Morgan Stanley raised their price objective on shares of Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, William Blair assumed coverage on shares of Waste Connections in a research note on Thursday, April 3rd. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Waste Connections has a consensus rating of “Moderate Buy” and a consensus price target of $204.43.

Waste Connections Price Performance

Waste Connections stock opened at $195.40 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65. Waste Connections, Inc. has a one year low of $160.34 and a one year high of $201.66. The company has a market cap of $50.48 billion, a P/E ratio of 81.76, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67. The business has a fifty day moving average of $190.59 and a two-hundred day moving average of $184.71.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.07 by $0.06. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.22 billion. As a group, analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.64%. Waste Connections’s dividend payout ratio is currently 52.72%.

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.