Waste Connections, Inc. (NYSE:WCN) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp lowered its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,677 shares of the business services provider's stock after selling 3,358 shares during the quarter. Cibc World Markets Corp's holdings in Waste Connections were worth $2,004,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp raised its holdings in shares of Waste Connections by 8.8% in the 4th quarter. Fifth Third Bancorp now owns 705 shares of the business services provider's stock valued at $121,000 after purchasing an additional 57 shares during the period. Jennison Associates LLC increased its position 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 holdings in shares of Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock worth $33,000 after buying an additional 71 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Waste Connections by 58.0% during the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider's stock worth $42,000 after buying an additional 83 shares in the last quarter. Finally, Inspire Advisors LLC boosted its position in shares of Waste Connections by 2.3% in the fourth quarter. Inspire Advisors LLC now owns 3,943 shares of the business services provider's stock valued at $676,000 after acquiring an additional 87 shares during the period. Institutional investors own 86.09% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have weighed in on WCN. CIBC dropped their price objective on shares of Waste Connections from $215.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. Citigroup lifted their price target on shares of Waste Connections from $195.00 to $196.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Oppenheimer increased their price target on Waste Connections from $192.00 to $195.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Truist Financial reaffirmed a "buy" rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday, February 14th. Finally, StockNews.com downgraded Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $202.43.

Waste Connections Stock Performance

WCN traded down $1.20 during midday trading on Wednesday, hitting $191.70. 772,297 shares of the company traded hands, compared to its average volume of 882,907. The firm has a market capitalization of $49.47 billion, a PE ratio of 80.21, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $194.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. The company's 50-day moving average is $186.24 and its 200 day moving average is $182.72.

Waste Connections (NYSE:WCN - Get Free Report) last announced 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 return on equity of 15.54% and a net margin of 6.92%. On average, research analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a $0.315 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. Waste Connections's dividend payout ratio is presently 52.72%.

Waste Connections 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.