Silvercrest Asset Management Group LLC reduced its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 712,648 shares of the business services provider's stock after selling 12,610 shares during the quarter. Waste Connections makes up about 0.8% of Silvercrest Asset Management Group LLC's holdings, making the stock its 16th biggest holding. Silvercrest Asset Management Group LLC owned about 0.28% of Waste Connections worth $122,276,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the stock. Manchester Capital Management LLC bought a new position in Waste Connections in the fourth quarter worth about $26,000. Private Trust Co. NA grew its holdings in shares of 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 acquiring an additional 92 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Waste Connections in the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Waste Connections in the 4th quarter valued at approximately $28,000. Finally, Smartleaf Asset Management LLC boosted its position 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 valued at $33,000 after purchasing an additional 71 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. William Blair assumed coverage on Waste Connections in a report on Thursday, April 3rd. They issued an "outperform" rating for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $221.00 price target on shares of Waste Connections in a research note on Friday, April 25th. StockNews.com lowered shares of Waste Connections from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Seaport Res Ptn upgraded shares of Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Truist Financial set a $220.00 target price on shares of Waste Connections in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $208.21.
Get Our Latest Stock Analysis on WCN
Waste Connections Stock Performance
Shares of WCN traded down $1.20 during mid-day trading on Wednesday, hitting $194.83. 505,051 shares of the company traded hands, compared to its average volume of 996,837. The stock has a market cap of $50.34 billion, a price-to-earnings ratio of 81.61, a P/E/G ratio of 3.07 and a beta of 0.66. The stock has a 50-day moving average price of $193.06 and a two-hundred day moving average price of $186.62. Waste Connections, Inc. has a 1 year low of $160.34 and a 1 year high of $201.66. 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 (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.06. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The firm's revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS. Equities analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.
Waste Connections Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Wednesday, May 7th. Waste Connections's dividend payout ratio (DPR) is presently 51.85%.
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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