Fiera Capital Corp Raises Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Fiera Capital Corp increased its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,332,002 shares of the business services provider's stock after acquiring an additional 142,751 shares during the quarter. Waste Connections makes up approximately 1.3% of Fiera Capital Corp's holdings, making the stock its 25th biggest holding. Fiera Capital Corp owned approximately 0.90% of Waste Connections worth $417,385,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. American Trust boosted its position in Waste Connections by 3.7% in the 2nd quarter. American Trust now owns 1,573 shares of the business services provider's stock valued at $276,000 after buying an additional 56 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Waste Connections by 15.0% in the 3rd quarter. GAMMA Investing LLC now owns 529 shares of the business services provider's stock worth $95,000 after purchasing an additional 69 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Waste Connections by 8.8% during the second quarter. First Horizon Advisors Inc. now owns 916 shares of the business services provider's stock valued at $161,000 after purchasing an additional 74 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Waste Connections by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,966 shares of the business services provider's stock worth $1,047,000 after acquiring an additional 82 shares during the period. Finally, CWM LLC lifted its holdings in shares of Waste Connections by 12.5% during the 2nd quarter. CWM LLC now owns 852 shares of the business services provider's stock valued at $149,000 after buying an additional 95 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

Shares of NYSE:WCN traded up $2.14 during trading on Friday, hitting $184.04. The stock had a trading volume of 785,072 shares, compared to its average volume of 886,557. Waste Connections, Inc. has a 12-month low of $129.31 and a 12-month high of $187.54. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $47.49 billion, a price-to-earnings ratio of 50.56, a price-to-earnings-growth ratio of 2.97 and a beta of 0.72. The stock has a 50-day simple moving average of $180.75 and a two-hundred day simple moving average of $176.02.

Waste Connections (NYSE:WCN - Get Free Report) last released its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the company posted $1.17 EPS. The business's revenue was up 13.3% on a year-over-year basis. On average, equities research analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a $0.315 dividend. This is a positive change from Waste Connections's previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, November 7th. Waste Connections's dividend payout ratio is currently 31.32%.

Wall Street Analysts Forecast Growth

Several research firms have commented on WCN. Truist Financial raised their price objective on Waste Connections from $180.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, July 11th. Citigroup increased their target price on Waste Connections from $190.00 to $195.00 and gave the stock a "neutral" rating in a research note on Thursday, October 3rd. Oppenheimer lifted their target price on Waste Connections from $191.00 to $194.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Scotiabank initiated coverage on Waste Connections in a report on Friday, October 4th. They set a "sector perform" rating and a $196.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $205.00 price target (up previously from $200.00) on shares of Waste Connections in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Waste Connections currently has an average rating of "Moderate Buy" and a consensus price target of $195.56.

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.