Dynamic Technology Lab Private Ltd Sells 7,412 Shares of Waste Connections, Inc. (NYSE:WCN)

Dynamic Technology Lab Private Ltd cut its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 52.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,588 shares of the business services provider's stock after selling 7,412 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Waste Connections were worth $1,130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 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 acquiring an additional 57 shares during the last quarter. Jennison Associates LLC lifted its holdings in Waste Connections by 0.4% in the fourth quarter. Jennison Associates LLC now owns 14,247 shares of the business services provider's stock valued at $2,445,000 after buying an additional 63 shares during the period. Oarsman Capital Inc. boosted its stake in Waste Connections by 41.4% in the fourth quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock valued at $38,000 after acquiring an additional 65 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Waste Connections by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock worth $33,000 after acquiring an additional 71 shares during the period. Finally, Continuum Advisory LLC raised its position in shares of Waste Connections by 58.0% during the 3rd quarter. Continuum Advisory LLC now owns 226 shares of the business services provider's stock valued at $42,000 after acquiring an additional 83 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WCN. Oppenheimer boosted their price objective on shares of Waste Connections from $192.00 to $195.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Morgan Stanley raised their price objective on Waste Connections from $214.00 to $219.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Jefferies Financial Group decreased their target price on 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 dropped their price target on Waste Connections from $218.00 to $209.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, CIBC cut 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 note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Waste Connections has an average rating of "Moderate Buy" and an average target price of $204.43.

Waste Connections Stock Performance

Shares of WCN traded up $0.51 during midday trading on Friday, reaching $192.33. The stock had a trading volume of 473,811 shares, compared to its average volume of 958,572. The firm has a market cap of $49.69 billion, a PE ratio of 80.24, a P/E/G ratio of 3.07 and a beta of 0.67. The firm has a 50 day simple moving average of $189.33 and a 200-day simple moving average of $183.62. Waste Connections, Inc. has a one year low of $160.34 and a one year high of $201.66. 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 (NYSE:WCN - Get Free Report) last announced its earnings results 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.66%. Waste Connections's dividend payout ratio (DPR) is currently 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.