Thematics Asset Management Reduces Stock Position in Waste Connections, Inc. (NYSE:WCN)

Thematics Asset Management trimmed its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 110,469 shares of the business services provider's stock after selling 2,000 shares during the quarter. Thematics Asset Management's holdings in Waste Connections were worth $18,954,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Waste Connections by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 29,293,002 shares of the business services provider's stock valued at $5,025,836,000 after purchasing an additional 174,121 shares in the last quarter. Bank of Montreal Can lifted its stake in Waste Connections by 4.3% during the 4th quarter. Bank of Montreal Can now owns 8,644,222 shares of the business services provider's stock valued at $1,481,041,000 after acquiring an additional 356,798 shares during the period. FIL Ltd boosted its holdings in shares of Waste Connections by 46.2% during the 4th quarter. FIL Ltd now owns 7,177,724 shares of the business services provider's stock valued at $1,231,368,000 after acquiring an additional 2,269,652 shares during the last quarter. Capital International Investors lifted its position in Waste Connections by 17.8% during the fourth quarter. Capital International Investors now owns 5,949,152 shares of the business services provider's stock valued at $1,020,672,000 after purchasing an additional 899,058 shares during the period. Finally, Norges Bank bought a new position in shares of Waste Connections during the 4th quarter valued at $687,935,000. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Price Performance

Shares of NYSE:WCN traded up $1.06 during midday trading on Thursday, reaching $196.74. 1,522,459 shares of the company were exchanged, compared to its average volume of 975,883. The stock has a market cap of $50.83 billion, a PE ratio of 82.32, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67. The business's fifty day moving average is $190.59 and its two-hundred day moving average is $184.71. 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 released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.07 by $0.06. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. As a group, analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, May 7th. Waste Connections's payout ratio is 51.85%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com cut Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Citigroup cut their price objective on shares of Waste Connections from $218.00 to $209.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group decreased their target price on Waste Connections from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Truist Financial reissued a "buy" rating and set a $210.00 price target (up previously from $200.00) on shares of Waste Connections in a report on Friday, February 14th. Finally, William Blair started coverage on Waste Connections in a research report on Thursday, April 3rd. They issued an "outperform" rating for the company. Four 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 company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $204.43.

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.