Bessemer Group Inc. cut its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 20.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,678 shares of the business services provider's stock after selling 3,435 shares during the quarter. Bessemer Group Inc.'s holdings in Waste Connections were worth $2,347,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WCN. Principal Financial Group Inc. boosted its stake in shares of Waste Connections by 307.1% during the third quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider's stock valued at $344,615,000 after purchasing an additional 1,453,733 shares in the last quarter. Barclays PLC boosted its position in Waste Connections by 34.3% during the 3rd quarter. Barclays PLC now owns 303,040 shares of the business services provider's stock valued at $54,190,000 after acquiring an additional 77,466 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Waste Connections by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 190,590 shares of the business services provider's stock valued at $36,207,000 after acquiring an additional 19,496 shares during the period. Virtu Financial LLC bought a new position in shares of Waste Connections in the 3rd quarter worth $1,586,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Waste Connections in the 3rd quarter worth $188,000. 86.09% of the stock is currently owned by institutional investors.
Waste Connections Stock Performance
WCN traded up $0.75 during midday trading on Friday, hitting $197.32. 979,319 shares of the company were exchanged, compared to its average volume of 969,818. The firm has a market capitalization of $50.98 billion, a price-to-earnings ratio of 82.56, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67. The company's 50 day simple moving average is $190.03 and its 200 day simple moving average is $184.19. 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 1-year low of $160.34 and a 1-year high of $201.66.
Waste Connections (NYSE:WCN - Get Free Report) last posted 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 return on equity of 15.54% and a net margin of 6.92%. As a group, sell-side analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.
Waste Connections Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Thursday, February 27th. Waste Connections's dividend payout ratio (DPR) is presently 52.72%.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Morgan Stanley lifted 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. StockNews.com lowered shares of Waste Connections from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Jefferies Financial Group lowered their target price on shares of Waste Connections from $225.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Citigroup cut their price target on shares of Waste Connections from $218.00 to $209.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, CIBC decreased their price objective on Waste Connections from $215.00 to $212.00 and set an "outperform" rating for the company in a report on Thursday, December 19th. Four research 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. According to data from MarketBeat, Waste Connections has an average rating of "Moderate Buy" and an average price target of $204.43.
View Our Latest Research Report 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.
See Also
Before you consider Waste Connections, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Waste Connections wasn't on the list.
While Waste Connections currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
