Tower Research Capital LLC TRC Raises Stake in Waste Connections, Inc. (NYSE:WCN)

Tower Research Capital LLC TRC raised its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 136.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,539 shares of the business services provider's stock after acquiring an additional 3,199 shares during the quarter. Tower Research Capital LLC TRC's holdings in Waste Connections were worth $950,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Manchester Capital Management LLC bought a new position in Waste Connections in the 4th quarter worth approximately $26,000. Private Trust Co. NA boosted its stake in shares of Waste Connections by 153.3% in 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 in the last quarter. Stonebridge Financial Group LLC bought a new stake in Waste Connections during the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd acquired a new position in Waste Connections during the 4th quarter worth about $28,000. Finally, Smartleaf Asset Management LLC raised its position in Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock worth $33,000 after purchasing an additional 71 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

Waste Connections Stock Up 0.7 %

WCN stock traded up $1.42 during midday trading on Tuesday, reaching $195.50. 1,205,427 shares of the company's stock traded hands, compared to its average volume of 976,242. The company has a market cap of $50.51 billion, a price-to-earnings ratio of 81.80, a P/E/G ratio of 3.07 and a beta of 0.67. The firm's fifty day moving average price is $191.00 and its 200-day moving average price is $185.09. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $201.66. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.06. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. During the same quarter last year, the company earned $1.04 earnings per share. The company's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.64%. The ex-dividend date is Wednesday, May 7th. Waste Connections's dividend payout ratio (DPR) is presently 51.85%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WCN. Citigroup upped their target price on shares of Waste Connections from $209.00 to $212.00 and gave the company a "neutral" rating in a research note on Tuesday. Truist Financial set a $220.00 price target on shares of Waste Connections in a research report on Friday. BMO Capital Markets lifted their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research report on Friday. StockNews.com downgraded Waste Connections from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Finally, William Blair initiated coverage on Waste Connections in a research report on Thursday, April 3rd. They set an "outperform" rating on the stock. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $208.21.

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.