Geode Capital Management LLC Boosts Position in Waste Connections, Inc. (NYSE:WCN)

Geode Capital Management LLC grew its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 239.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 647,727 shares of the business services provider's stock after purchasing an additional 457,137 shares during the quarter. Geode Capital Management LLC owned about 0.25% of Waste Connections worth $115,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Waste Connections by 34.3% in the 3rd quarter. Barclays PLC now owns 303,040 shares of the business services provider's stock valued at $54,190,000 after acquiring an additional 77,466 shares in the last quarter. GAMMA Investing LLC grew its holdings in Waste Connections by 785.1% in the fourth quarter. GAMMA Investing LLC now owns 4,682 shares of the business services provider's stock worth $803,000 after purchasing an additional 4,153 shares during the period. TCW Group Inc. increased its stake in Waste Connections by 6.7% in the third quarter. TCW Group Inc. now owns 722,426 shares of the business services provider's stock valued at $129,184,000 after purchasing an additional 45,215 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Waste Connections by 6.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 72,189 shares of the business services provider's stock valued at $12,909,000 after purchasing an additional 4,330 shares during the period. Finally, Douglas Lane & Associates LLC boosted its position in shares of Waste Connections by 20.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 129,256 shares of the business services provider's stock worth $22,178,000 after purchasing an additional 22,310 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WCN shares. Citigroup cut their price target on Waste Connections from $218.00 to $209.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. William Blair initiated coverage on shares of Waste Connections in a research report on Thursday, April 3rd. They issued an "outperform" rating on the stock. Morgan Stanley boosted their target price on shares of Waste Connections from $214.00 to $219.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Scotiabank raised their price target on shares of Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 8th. Finally, Truist Financial reissued a "buy" rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Waste Connections presently has an average rating of "Moderate Buy" and an average target price of $204.43.

Waste Connections Trading Down 0.0 %

WCN stock traded down $0.01 during trading on Monday, hitting $194.69. 74,879 shares of the company traded hands, compared to its average volume of 962,009. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50-day moving average of $189.47 and a 200-day moving average of $183.76. The firm has a market capitalization of $50.30 billion, a PE ratio of 81.46, a P/E/G ratio of 3.07 and a beta of 0.67. Waste Connections, Inc. has a 1 year low of $160.34 and a 1 year high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results 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%. Analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a $0.315 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 annualized dividend and a yield of 0.65%. Waste Connections's dividend payout ratio (DPR) 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.