Waste Connections, Inc. (NYSE:WCN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 409,522 shares of the business services provider's stock after selling 12,922 shares during the quarter. Bank of New York Mellon Corp owned about 0.16% of Waste Connections worth $70,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp boosted 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 period. 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 in the last quarter. Continuum Advisory LLC boosted its position in shares of Waste Connections by 58.0% during the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider's stock worth $42,000 after buying an additional 83 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Waste Connections by 6.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,515 shares of the business services provider's stock valued at $271,000 after acquiring an additional 90 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Waste Connections by 0.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,220 shares of the business services provider's stock valued at $5,014,000 after acquiring an additional 92 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Waste Connections from $192.00 to $195.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Truist Financial restated a "buy" rating and issued a $210.00 price target (up previously from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Stifel Nicolaus increased their price objective on Waste Connections from $205.00 to $212.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Jefferies Financial Group lowered their target price on Waste Connections from $225.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Finally, Morgan Stanley increased their price target on Waste Connections from $214.00 to $219.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.43.

Waste Connections Stock Up 0.2 %

Shares of Waste Connections stock traded up $0.34 during trading hours on Friday, hitting $186.10. The company had a trading volume of 601,088 shares, compared to its average volume of 873,959. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The company's 50-day moving average is $182.42 and its two-hundred day moving average is $182.51. The company has a market cap of $48.03 billion, a P/E ratio of 77.91, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $194.83.

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

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, February 27th. Waste Connections's dividend payout ratio (DPR) is 52.72%.

About Waste Connections

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.