Arrowstreet Capital Limited Partnership Buys 46,150 Shares of Waste Connections, Inc. (NYSE:WCN)

Arrowstreet Capital Limited Partnership increased its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 22.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 254,760 shares of the business services provider's stock after purchasing an additional 46,150 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.10% of Waste Connections worth $43,676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Waste Connections by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 29,293,002 shares of the business services provider's stock worth $5,025,836,000 after buying an additional 174,121 shares in the last quarter. Norges Bank bought a new stake in Waste Connections in the fourth quarter valued at $687,935,000. TD Asset Management Inc. raised its stake in Waste Connections by 1.8% during the fourth quarter. TD Asset Management Inc. now owns 3,698,507 shares of the business services provider's stock worth $634,200,000 after acquiring an additional 65,795 shares in the last quarter. Alphinity Investment Management Pty Ltd lifted its holdings in shares of Waste Connections by 0.9% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 3,332,826 shares of the business services provider's stock valued at $571,846,000 after acquiring an additional 29,542 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of Waste Connections by 35.3% during the third quarter. National Bank of Canada FI now owns 2,678,562 shares of the business services provider's stock valued at $478,777,000 after acquiring an additional 699,012 shares during the period. Institutional investors own 86.09% of the company's stock.

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Waste Connections Trading Down 5.9 %

Shares of NYSE:WCN traded down $11.88 during mid-day trading on Friday, reaching $188.07. The stock had a trading volume of 3,261,052 shares, compared to its average volume of 936,869. The firm has a market cap of $48.59 billion, a PE ratio of 78.69, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67. The firm has a 50 day simple moving average of $188.60 and a two-hundred day simple moving average of $183.24. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. On average, research analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, February 27th. Waste Connections's dividend payout ratio is currently 52.72%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Scotiabank decreased their price objective on shares of Waste Connections from $196.00 to $192.00 and set a "sector perform" rating on the stock in a research note on Monday, January 27th. CIBC dropped their price target on Waste Connections from $215.00 to $212.00 and set an "outperform" rating for the company in a report on Thursday, December 19th. Truist Financial reissued a "buy" rating and issued a $210.00 price objective (up previously from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Morgan Stanley raised their target price on Waste Connections from $214.00 to $219.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Finally, Citigroup upped their price target on shares of Waste Connections from $199.00 to $218.00 and gave the stock a "neutral" rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $204.00.

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.