Twinbeech Capital LP boosted its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 43.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 250,178 shares of the business services provider's stock after purchasing an additional 75,616 shares during the period. Twinbeech Capital LP owned about 0.10% of Waste Connections worth $42,926,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of Waste Connections by 8.8% in the fourth quarter. Fifth Third Bancorp now owns 705 shares of the business services provider's stock worth $121,000 after acquiring an additional 57 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Waste Connections by 0.4% in the fourth quarter. Jennison Associates LLC now owns 14,247 shares of the business services provider's stock worth $2,445,000 after acquiring an additional 63 shares in the last quarter. Oarsman Capital Inc. grew its stake in shares of Waste Connections by 41.4% in the fourth quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock worth $38,000 after acquiring 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 purchasing an additional 71 shares during the last quarter. Finally, Inspire Advisors LLC lifted its position in shares of Waste Connections by 2.3% during the 4th quarter. Inspire Advisors LLC now owns 3,943 shares of the business services provider's stock worth $676,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.
Waste Connections Trading Up 0.9%
Shares of Waste Connections stock traded up $1.76 during trading on Friday, hitting $196.67. The stock had a trading volume of 859,473 shares, compared to its average volume of 1,003,888. The stock has a 50 day simple moving average of $193.58 and a 200 day simple moving average of $186.92. The company has a market capitalization of $50.81 billion, a PE ratio of 82.29, a P/E/G 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, Inc. has a 1 year low of $160.34 and a 1 year high of $201.66.
Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. The firm's revenue was up 7.5% on a year-over-year basis. On average, research analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.
Waste Connections Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Wednesday, May 7th. Waste Connections's payout ratio is 51.85%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on WCN shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $221.00 price objective on shares of Waste Connections in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their target price on shares of Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a report on Friday. Wall Street Zen cut shares of Waste Connections from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Scotiabank upped their target price on shares of Waste Connections from $192.00 to $207.00 and gave the company a "sector perform" rating in a report on Tuesday, April 8th. Finally, William Blair began coverage on shares of Waste Connections in a report on Thursday, April 3rd. They set 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $212.23.
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Waste Connections Profile
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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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