Scotiabank Boosts Waste Connections (NYSE:WCN) Price Target to $207.00

Waste Connections (NYSE:WCN - Free Report) had its price target lifted by Scotiabank from $192.00 to $207.00 in a research note published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a sector perform rating on the business services provider's stock.

WCN has been the subject of a number of other research reports. Oppenheimer boosted their target price on shares of Waste Connections from $192.00 to $195.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. CIBC decreased their target price on shares of Waste Connections from $215.00 to $212.00 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. StockNews.com downgraded shares of Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Stifel Nicolaus increased their price target on Waste Connections from $205.00 to $212.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday, February 14th. Four research 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 stock. According to MarketBeat, Waste Connections has a consensus rating of "Moderate Buy" and a consensus target price of $204.43.

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Waste Connections Stock Performance

WCN traded up $2.92 on Tuesday, reaching $194.74. The company had a trading volume of 1,469,552 shares, compared to its average volume of 964,291. The stock has a market cap of $50.31 billion, a P/E ratio of 81.48, a P/E/G ratio of 3.07 and a beta of 0.67. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65. Waste Connections has a fifty-two week low of $160.34 and a fifty-two week high of $201.66. The company's fifty day moving average is $189.47 and its 200 day moving average is $183.72.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, February 12th. The business services provider reported $1.16 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%. As a group, analysts predict that Waste Connections will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors 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 of this dividend was Thursday, February 27th. Waste Connections's payout ratio is 52.72%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC grew its position in Waste Connections by 34.3% during the 3rd quarter. Barclays PLC now owns 303,040 shares of the business services provider's stock worth $54,190,000 after acquiring an additional 77,466 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Waste Connections by 785.1% during the fourth quarter. GAMMA Investing LLC now owns 4,682 shares of the business services provider's stock worth $803,000 after purchasing an additional 4,153 shares during the last quarter. TCW Group Inc. increased its stake in shares of Waste Connections by 6.7% in the third quarter. TCW Group Inc. now owns 722,426 shares of the business services provider's stock valued at $129,184,000 after buying an additional 45,215 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Waste Connections by 6.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 72,189 shares of the business services provider's stock valued at $12,909,000 after buying an additional 4,330 shares during the period. Finally, Douglas Lane & Associates LLC boosted its position in Waste Connections by 20.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 129,256 shares of the business services provider's stock worth $22,178,000 after buying an additional 22,310 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

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.