Allworth Financial LP Acquires 68,584 Shares of Waste Connections, Inc. (NYSE:WCN)

Allworth Financial LP raised its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 1,412.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,438 shares of the business services provider's stock after buying an additional 68,584 shares during the quarter. Allworth Financial LP's holdings in Waste Connections were worth $13,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its stake in Waste Connections by 8.8% in the fourth quarter. Fifth Third Bancorp now owns 705 shares of the business services provider's stock valued at $121,000 after buying an additional 57 shares during the period. Jennison Associates LLC lifted its stake in Waste Connections by 0.4% in the fourth quarter. Jennison Associates LLC now owns 14,247 shares of the business services provider's stock valued at $2,445,000 after buying an additional 63 shares during the period. Continuum Advisory LLC lifted its stake in Waste Connections by 58.0% in the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider's stock valued at $42,000 after buying an additional 83 shares during the period. Kingsview Wealth Management LLC lifted its stake in Waste Connections by 6.3% in the third quarter. Kingsview Wealth Management LLC now owns 1,515 shares of the business services provider's stock valued at $271,000 after buying an additional 90 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Waste Connections by 0.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,220 shares of the business services provider's stock worth $5,014,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Stock Up 0.0 %

WCN stock traded up $0.08 during mid-day trading on Wednesday, reaching $187.73. The company had a trading volume of 1,019,824 shares, compared to its average volume of 989,263. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a 50 day simple moving average of $179.51 and a two-hundred day simple moving average of $181.87. The company has a market capitalization of $48.45 billion, a price-to-earnings ratio of 78.55, a PEG ratio of 3.08 and a beta of 0.77. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $194.83.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. As a group, equities analysts predict that Waste Connections, Inc. will post 5.3 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a $0.315 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a yield of 0.67%. Waste Connections's dividend payout ratio is 52.72%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WCN. Royal Bank of Canada raised their price target on Waste Connections from $199.00 to $201.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. BMO Capital Markets dropped their price target on Waste Connections from $198.00 to $196.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Raymond James dropped their price target on Waste Connections from $208.00 to $205.00 and set a "strong-buy" rating on the stock in a research report on Friday, October 25th. Truist Financial reaffirmed a "buy" rating and set a $210.00 price target (up previously from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. Finally, Citigroup raised their price target on Waste Connections from $195.00 to $196.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Five 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $201.00.

Waste Connections Company Profile

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.