Allspring Global Investments Holdings LLC Has $86.47 Million Stock Position in Waste Connections, Inc. (NYSE:WCN)

Allspring Global Investments Holdings LLC grew its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 508,810 shares of the business services provider's stock after purchasing an additional 65,844 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.20% of Waste Connections worth $86,471,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versor Investments LP grew its position in Waste Connections by 75.1% during the third quarter. Versor Investments LP now owns 8,221 shares of the business services provider's stock worth $1,470,000 after buying an additional 3,527 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in Waste Connections during the third quarter worth about $552,000. Dynamic Technology Lab Private Ltd acquired a new stake in Waste Connections during the third quarter worth about $2,503,000. Barclays PLC grew its position in Waste Connections by 34.3% during the third quarter. Barclays PLC now owns 303,040 shares of the business services provider's stock worth $54,190,000 after buying an additional 77,466 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its position in Waste Connections by 65.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 3,034 shares of the business services provider's stock worth $543,000 after buying an additional 1,202 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Trading Up 0.1 %

NYSE:WCN traded up $0.23 during trading hours on Friday, hitting $189.08. 1,261,705 shares of the stock were exchanged, compared to its average volume of 873,997. The company's 50 day moving average is $179.36 and its two-hundred day moving average is $181.67. The company has a market capitalization of $48.80 billion, a P/E ratio of 51.94, a price-to-earnings-growth ratio of 2.97 and a beta of 0.77. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $194.83. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99.

Waste Connections (NYSE:WCN - Get Free Report) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. On average, sell-side analysts anticipate that Waste Connections, Inc. will post 4.83 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, February 27th. Waste Connections's dividend payout ratio is currently 34.62%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Waste Connections from $214.00 to $219.00 and gave the company an "overweight" rating in a report on Friday. Stifel Nicolaus lifted their price objective on Waste Connections from $205.00 to $212.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. CIBC decreased their price objective on Waste Connections from $215.00 to $212.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. Truist Financial reaffirmed a "buy" rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday. Finally, StockNews.com downgraded Waste Connections from a "buy" rating to a "hold" rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $201.00.

About Waste Connections

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.