Waste Connections, Inc. (NYSE:WCN) Shares Acquired by FIL Ltd

FIL Ltd raised its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 46.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,177,724 shares of the business services provider's stock after purchasing an additional 2,269,652 shares during the quarter. Waste Connections accounts for approximately 1.2% of FIL Ltd's portfolio, making the stock its 12th largest position. FIL Ltd owned about 2.78% of Waste Connections worth $1,231,368,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of Waste Connections by 8.8% in the fourth quarter. Fifth Third Bancorp now owns 705 shares of the business services provider's stock valued at $121,000 after acquiring an additional 57 shares in the last quarter. Jennison Associates LLC lifted its stake in Waste Connections by 0.4% during the fourth quarter. Jennison Associates LLC now owns 14,247 shares of the business services provider's stock worth $2,445,000 after purchasing an additional 63 shares during the last quarter. Oarsman Capital Inc. grew its position in shares of Waste Connections by 41.4% in the 4th quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock valued at $38,000 after buying an additional 65 shares during the last quarter. Smartleaf Asset Management LLC increased its position 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 worth $33,000 after purchasing an additional 71 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in Waste Connections by 58.0% in the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider's stock valued at $42,000 after buying an additional 83 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WCN. StockNews.com cut shares of Waste Connections from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Jefferies Financial Group cut their price objective on Waste Connections from $225.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. CIBC lowered their price target on shares of Waste Connections from $215.00 to $212.00 and set an "outperform" rating for the company in a report on Thursday, December 19th. Truist Financial reissued a "buy" rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Finally, Scotiabank boosted their price objective on shares of Waste Connections from $192.00 to $207.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 8th. Four equities 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $204.43.

Waste Connections Stock Up 1.5 %

Shares of Waste Connections stock traded up $2.92 on Friday, hitting $194.74. 1,469,552 shares of the company's stock traded hands, compared to its average volume of 965,439. 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. The stock has a market cap of $50.31 billion, a P/E ratio of 81.48, a PEG ratio of 3.07 and a beta of 0.67. The firm's 50-day moving average is $189.47 and its 200 day moving average is $183.76.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. Equities analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.315 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.65%. Waste Connections's dividend payout ratio (DPR) is 52.72%.

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.