EDENTREE ASSET MANAGEMENT Ltd purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 47,650 shares of the business services provider's stock, valued at approximately $8,172,000. Waste Connections comprises approximately 2.4% of EDENTREE ASSET MANAGEMENT Ltd's holdings, making the stock its 15th largest holding.
Other hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC acquired a new position in shares of Waste Connections during the fourth quarter valued at approximately $26,000. Private Trust Co. NA grew its position in Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock worth $26,000 after purchasing an additional 92 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Waste Connections during the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in Waste Connections during the 4th quarter worth approximately $28,000. Finally, Smartleaf Asset Management LLC grew its position in 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 purchasing an additional 71 shares in the last quarter. Institutional investors own 86.09% of the company's stock.
Waste Connections Trading Down 0.4%
NYSE WCN traded down $0.77 during trading hours on Tuesday, hitting $196.07. The company's stock had a trading volume of 304,305 shares, compared to its average volume of 1,003,585. The stock has a fifty day moving average of $193.70 and a 200 day moving average of $187.10. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $201.66. The firm has a market capitalization of $50.66 billion, a P/E ratio of 82.07, a PEG ratio of 3.07 and a beta of 0.66. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03.
Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. Equities research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.
Waste Connections Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, May 7th. Waste Connections's payout ratio is 51.85%.
Wall Street Analyst Weigh In
WCN has been the topic of several research analyst reports. Seaport Res Ptn upgraded shares of Waste Connections to a "strong-buy" rating in a research report on Tuesday, May 6th. Citigroup lifted their target price on shares of Waste Connections from $209.00 to $212.00 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. Truist Financial set a $220.00 target price on shares of Waste Connections in a research note on Friday, April 25th. BMO Capital Markets lifted their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, William Blair began coverage on shares of Waste Connections in a research note on Thursday, April 3rd. They issued an "outperform" rating for the company. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $212.23.
Check Out Our Latest Analysis on Waste Connections
About Waste Connections
(
Free Report)
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.
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