Mirabaud Asset Management Ltd Reduces Holdings in Waste Connections, Inc. (NYSE:WCN)

Mirabaud Asset Management Ltd lessened its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,620 shares of the business services provider's stock after selling 4,819 shares during the period. Waste Connections comprises about 4.5% of Mirabaud Asset Management Ltd's investment portfolio, making the stock its 6th largest position. Mirabaud Asset Management Ltd's holdings in Waste Connections were worth $9,692,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Waste Connections by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 29,293,002 shares of the business services provider's stock valued at $5,025,836,000 after buying an additional 174,121 shares during the last quarter. Norges Bank acquired a new position in shares of Waste Connections during the fourth quarter valued at $687,935,000. Wellington Management Group LLP raised its position in shares of Waste Connections by 8.5% during the 4th quarter. Wellington Management Group LLP now owns 3,983,165 shares of the business services provider's stock worth $683,430,000 after buying an additional 310,449 shares in the last quarter. TD Asset Management Inc. lifted its position in Waste Connections by 1.8% in the fourth quarter. TD Asset Management Inc. now owns 3,698,507 shares of the business services provider's stock worth $634,200,000 after purchasing an additional 65,795 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its holdings in shares of Waste Connections by 0.9% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 3,332,826 shares of the business services provider's stock valued at $571,846,000 after buying an additional 29,542 shares during the period. Institutional investors own 86.09% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WCN. Stifel Nicolaus raised their target price on shares of Waste Connections from $205.00 to $212.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Scotiabank upped their target price on Waste Connections from $192.00 to $207.00 and gave the company a "sector perform" rating in a report on Tuesday. William Blair started 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 target price (up from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Finally, Morgan Stanley raised their price objective on Waste Connections from $214.00 to $219.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.43.

Waste Connections Trading Down 0.2 %

Waste Connections stock traded down $0.33 during midday trading on Thursday, hitting $192.57. 859,765 shares of the stock were exchanged, compared to its average volume of 956,891. The company has a fifty day simple moving average of $189.24 and a two-hundred day simple moving average of $183.54. 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 capitalization of $49.75 billion, a PE ratio of 80.43, a P/E/G ratio of 3.07 and a beta of 0.67. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share 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 research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 0.65%. The ex-dividend date was Thursday, February 27th. Waste Connections's payout ratio 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.