Marshall Wace LLP increased its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 315.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,321 shares of the business services provider's stock after acquiring an additional 49,609 shares during the quarter. Marshall Wace LLP's holdings in Waste Connections were worth $11,208,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in WCN. Fifth Third Bancorp raised its position in shares of Waste Connections by 8.8% during the 4th quarter. Fifth Third Bancorp now owns 705 shares of the business services provider's stock worth $121,000 after purchasing an additional 57 shares during the last quarter. Jennison Associates LLC increased its stake 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 in the last quarter. Oarsman Capital Inc. increased its stake in Waste Connections by 41.4% during the 4th quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock worth $38,000 after buying an additional 65 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 acquiring an additional 71 shares in the last quarter. Finally, Inspire Advisors LLC increased its position in shares of Waste Connections by 2.3% during the fourth quarter. Inspire Advisors LLC now owns 3,943 shares of the business services provider's stock worth $676,000 after purchasing an additional 87 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. StockNews.com cut shares of Waste Connections from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Scotiabank boosted 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 report on Tuesday, April 8th. Truist Financial set a $220.00 price objective on shares of Waste Connections in a report on Friday. William Blair initiated coverage on Waste Connections in a report on Thursday, April 3rd. They set an "outperform" rating on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of Waste Connections in a report on Friday. Four equities 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 data from MarketBeat.com, Waste Connections currently has an average rating of "Moderate Buy" and a consensus price target of $206.57.
View Our Latest Report on WCN
Waste Connections Trading Down 1.2 %
Shares of Waste Connections stock traded down $2.37 on Friday, reaching $194.35. The company had a trading volume of 1,416,532 shares, compared to its average volume of 976,390. 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 market cap of $50.21 billion, a PE ratio of 81.32, a PEG ratio of 3.07 and a beta of 0.67. The firm's 50 day moving average price is $190.74 and its two-hundred day moving average price is $184.85. Waste Connections, Inc. has a 52-week low of $160.34 and a 52-week high of $201.66.
Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.06. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.22 billion. Sell-side analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.
Waste Connections Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Wednesday, May 7th. Waste Connections's payout ratio is 51.85%.
About Waste Connections
(
Free Report)
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.
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