USS Investment Management Ltd cut its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,561 shares of the business services provider's stock after selling 5,143 shares during the period. USS Investment Management Ltd's holdings in Waste Connections were worth $8,147,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC bought a new stake in Waste Connections during the fourth quarter valued at $26,000. Private Trust Co. NA raised its holdings in shares of Waste Connections by 153.3% in the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock valued at $26,000 after acquiring an additional 92 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Waste Connections during the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Waste Connections during the 4th quarter valued at about $28,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Waste Connections by 59.7% during the fourth 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. 86.09% of the stock is owned by hedge funds and other institutional investors.
Waste Connections Trading Down 0.5%
Waste Connections stock traded down $1.02 during mid-day trading on Tuesday, hitting $195.83. The company's stock had a trading volume of 277,553 shares, compared to its average volume of 1,003,492. The business has a 50 day moving average price of $193.70 and a 200-day moving average price of $187.10. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. Waste Connections, Inc. has a 12 month low of $160.34 and a 12 month high of $201.66. The stock has a market cap of $50.59 billion, a price-to-earnings ratio of 81.92, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.
Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.07 by $0.06. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the business earned $1.04 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. As a group, analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.
Waste Connections Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were given a $0.315 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $1.26 annualized dividend and a yield of 0.64%. Waste Connections's payout ratio is currently 51.85%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Scotiabank lifted their target price on shares of Waste Connections from $192.00 to $207.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 8th. Wall Street Zen cut shares of Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Truist Financial set a $220.00 price objective on shares of Waste Connections in a report on Friday, April 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $221.00 target price on shares of Waste Connections in a research note on Friday, April 25th. Finally, Morgan Stanley raised their price target on Waste Connections from $214.00 to $219.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $212.23.
Read Our Latest Stock 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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