Waste Connections, Inc. (NYSE:WCN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,249,936 shares of the business services provider's stock after selling 57,145 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.26% of Waste Connections worth $557,624,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA grew its position in Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock valued at $26,000 after purchasing an additional 92 shares during the last quarter. Manchester Capital Management LLC bought a new position in shares of Waste Connections in the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new position in shares of Waste Connections in the fourth quarter worth approximately $27,000. Smartleaf Asset Management LLC grew 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 valued at $33,000 after buying an additional 71 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Waste Connections during the third quarter valued at approximately $40,000. Institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

Shares of WCN traded up $2.23 during trading hours on Thursday, hitting $198.85. The stock had a trading volume of 583,667 shares, compared to its average volume of 982,845. The firm has a market capitalization of $51.38 billion, a price-to-earnings ratio of 83.20, a PEG ratio of 3.07 and a beta of 0.81. 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 firm has a 50-day moving average price of $188.19 and a 200 day moving average price of $183.13. Waste Connections, Inc. has a fifty-two week low of $160.34 and a fifty-two week high of $201.66.

Remove Ads

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 for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. As a group, research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently announced 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. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, February 27th. Waste Connections's payout ratio is 52.72%.

Analyst Ratings Changes

Several analysts have commented on the company. Jefferies Financial Group cut their target price on Waste Connections from $225.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Truist Financial reaffirmed a "buy" rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. Scotiabank decreased their target price on Waste Connections from $196.00 to $192.00 and set a "sector perform" rating for the company in a research report on Monday, January 27th. CIBC dropped their price target on shares of Waste Connections from $215.00 to $212.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. Finally, 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. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $204.00.

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.