Bornite Capital Management LP Has $36.32 Million Stock Position in Waste Connections, Inc. (NYSE:WCN)

Bornite Capital Management LP boosted its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 111.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 211,700 shares of the business services provider's stock after buying an additional 111,700 shares during the period. Waste Connections makes up about 4.9% of Bornite Capital Management LP's investment portfolio, making the stock its 4th biggest position. Bornite Capital Management LP owned approximately 0.08% of Waste Connections worth $36,323,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of Waste Connections by 8.8% during the fourth quarter. Fifth Third Bancorp now owns 705 shares of the business services provider's stock worth $121,000 after purchasing an additional 57 shares during the period. Jennison Associates LLC raised its holdings in Waste Connections by 0.4% during the 4th quarter. Jennison Associates LLC now owns 14,247 shares of the business services provider's stock worth $2,445,000 after buying an additional 63 shares during the period. Smartleaf Asset Management LLC lifted its stake in Waste Connections by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock valued at $33,000 after buying an additional 71 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of 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. Finally, Inspire Advisors LLC increased its position in shares of Waste Connections by 2.3% during the fourth quarter. Inspire Advisors LLC now owns 3,943 shares of the business services provider's stock worth $676,000 after acquiring an additional 87 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

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Waste Connections Price Performance

WCN traded down $0.45 on Tuesday, reaching $184.30. The stock had a trading volume of 1,087,082 shares, compared to its average volume of 945,215. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $47.62 billion, a price-to-earnings ratio of 76.87, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67. Waste Connections, Inc. has a fifty-two week low of $160.34 and a fifty-two week high of $201.66. The firm has a 50-day moving average of $188.87 and a 200-day moving average of $183.35.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) 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, sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.68%. The ex-dividend date was Thursday, February 27th. Waste Connections's dividend payout ratio is currently 52.72%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Scotiabank boosted their price target on Waste Connections from $192.00 to $207.00 and gave the company a "sector perform" rating in a report on Tuesday. Citigroup dropped their target price on shares of Waste Connections from $218.00 to $209.00 and set a "neutral" rating on the stock in a report on Tuesday. 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 report on Friday, February 14th. StockNews.com cut Waste Connections from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Finally, CIBC lowered their price target on shares of Waste Connections from $215.00 to $212.00 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $204.43.

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.