Trexquant Investment LP Lowers Position in Waste Connections, Inc. (NYSE:WCN)

Trexquant Investment LP decreased its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 66.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,203 shares of the business services provider's stock after selling 10,130 shares during the period. Trexquant Investment LP's holdings in Waste Connections were worth $893,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WCN. Fifth Third Bancorp lifted its stake in 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 during the last quarter. Jennison Associates LLC increased its position 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 buying an additional 63 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Waste Connections by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock valued at $33,000 after buying an additional 71 shares during the period. Continuum Advisory LLC lifted its position in shares of 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. Finally, Inspire Advisors LLC boosted its stake in shares of Waste Connections by 2.3% during the 4th quarter. Inspire Advisors LLC now owns 3,943 shares of the business services provider's stock worth $676,000 after acquiring an additional 87 shares during the period. Institutional investors and hedge funds own 86.09% of the company's stock.

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Waste Connections Trading Up 1.3 %

WCN stock traded up $2.49 during midday trading on Wednesday, hitting $198.48. The stock had a trading volume of 120,138 shares, compared to its average volume of 1,095,662. The firm has a market cap of $51.28 billion, a P/E ratio of 83.05, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The business has a fifty day moving average price of $189.75 and a two-hundred day moving average price of $183.97. Waste Connections, Inc. has a 1-year low of $160.34 and a 1-year high of $201.66.

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

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.315 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a yield of 0.63%. Waste Connections's dividend payout ratio (DPR) is presently 52.72%.

Wall Street Analysts Forecast Growth

WCN has been the subject of several research reports. William Blair initiated coverage on Waste Connections in a report on Thursday, April 3rd. They set an "outperform" rating for the company. Truist Financial reiterated 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. Scotiabank boosted their price objective on Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Citigroup lowered their target price on Waste Connections from $218.00 to $209.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, CIBC reduced their price target on Waste Connections from $215.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Waste Connections currently has an average rating of "Moderate Buy" and an average price target of $204.43.

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.