Envestnet Asset Management Inc. Has $80.14 Million Stock Position in Waste Connections, Inc. (NYSE:WCN)

Envestnet Asset Management Inc. lowered its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 8.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 467,104 shares of the business services provider's stock after selling 42,224 shares during the quarter. Envestnet Asset Management Inc. owned about 0.18% of Waste Connections worth $80,138,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC bought a new position in Waste Connections during the fourth quarter worth about $26,000. Private Trust Co. NA increased its holdings in shares of Waste Connections by 153.3% during the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock worth $26,000 after purchasing an additional 92 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Waste Connections in the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC raised its position in shares of 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. Finally, Oarsman Capital Inc. boosted its stake in shares of 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 buying an additional 65 shares during the period. Institutional investors own 86.09% of the company's stock.

Analysts Set New Price Targets

WCN has been the subject of several analyst reports. Citigroup dropped their price objective on Waste Connections from $218.00 to $209.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. CIBC dropped their price target on Waste Connections from $215.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. Truist Financial reiterated a "buy" rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Scotiabank upped their price target on shares of Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Finally, Morgan Stanley increased their price target on shares of Waste Connections from $214.00 to $219.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Four equities research 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 company. According to MarketBeat.com, Waste Connections currently has an average rating of "Moderate Buy" and a consensus target price of $204.43.

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Waste Connections Price Performance

WCN traded up $0.75 on Monday, reaching $195.45. The stock had a trading volume of 154,327 shares, compared to its average volume of 1,094,887. 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 $50.50 billion, a price-to-earnings ratio of 81.78, 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 $189.47 and a 200-day moving average of $183.76.

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

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were paid a $0.315 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 annualized dividend and a dividend yield of 0.64%. Waste Connections's dividend payout ratio is 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.