CIBC Asset Management Inc Sells 7,822 Shares of Waste Connections, Inc. (NYSE:WCN)

CIBC Asset Management Inc lessened its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 952,003 shares of the business services provider's stock after selling 7,822 shares during the period. CIBC Asset Management Inc owned about 0.37% of Waste Connections worth $163,575,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Versor Investments LP lifted its position in Waste Connections by 75.1% in the 3rd quarter. Versor Investments LP now owns 8,221 shares of the business services provider's stock valued at $1,470,000 after acquiring an additional 3,527 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of Waste Connections in the 3rd quarter valued at about $552,000. Dynamic Technology Lab Private Ltd bought a new stake in Waste Connections in the third quarter worth about $2,503,000. Barclays PLC lifted its stake in Waste Connections by 34.3% in the third quarter. Barclays PLC now owns 303,040 shares of the business services provider's stock worth $54,190,000 after purchasing an additional 77,466 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of 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 acquiring an additional 1,202 shares during the period. Hedge funds and other institutional investors own 86.09% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Waste Connections from $198.00 to $197.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Stifel Nicolaus boosted their target price on shares of Waste Connections from $205.00 to $212.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Truist Financial reiterated a "buy" rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a report on Friday, February 14th. Oppenheimer upped their target price on shares of Waste Connections from $192.00 to $195.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Finally, StockNews.com downgraded shares of Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $201.00.

Waste Connections Stock Performance

Shares of WCN stock traded down $0.11 during trading hours on Thursday, reaching $187.71. The stock had a trading volume of 870,925 shares, compared to its average volume of 985,677. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $194.83. The firm has a 50-day simple moving average of $179.51 and a 200-day simple moving average of $181.87. The firm has a market capitalization of $48.44 billion, a PE ratio of 78.54, a price-to-earnings-growth ratio of 3.07 and a beta of 0.77.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 earnings per share 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%. As a group, equities analysts forecast that Waste Connections, Inc. will post 5.29 earnings per share for the current year.

Waste Connections Announces Dividend

The firm 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 dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, February 27th. Waste Connections's payout ratio is presently 52.72%.

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.