Waste Connections, Inc. (NYSE:WCN) Stock Position Lifted by Capital International Investors

Capital International Investors grew its position in Waste Connections, Inc. (NYSE:WCN) by 17.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,949,152 shares of the business services provider’s stock after purchasing an additional 899,058 shares during the period. Capital International Investors owned about 2.31% of Waste Connections worth $1,020,672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new position in shares of Waste Connections in the fourth quarter valued at approximately $26,000. Private Trust Co. NA raised its position in shares of Waste Connections by 153.3% during the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock valued at $26,000 after buying an additional 92 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Waste Connections in the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd bought a new position in shares of Waste Connections during the 4th quarter worth about $28,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock worth $33,000 after buying an additional 71 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Waste Connections stock opened at $197.32 on Friday. The company has a market cap of $50.98 billion, a PE ratio of 82.56, a PEG 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. Waste Connections, Inc. has a 1 year low of $160.34 and a 1 year high of $201.66. The company’s 50-day moving average is $190.18 and its two-hundred day moving average is $184.32.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data 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 net margin of 6.92% and a return on equity of 15.54%. Equities analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The business 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 0.64%. The ex-dividend date of this dividend was Thursday, February 27th. Waste Connections’s payout ratio is 52.72%.

Analyst Ratings Changes

WCN has been the topic of a number of analyst reports. Jefferies Financial Group lowered their price target on Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and issued a $210.00 target price (up previously from $200.00) on shares of Waste Connections in a report on Friday, February 14th. William Blair initiated coverage on shares of Waste Connections in a report on Thursday, April 3rd. They set an “outperform” rating for the company. Morgan Stanley upped their price objective on shares of Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Citigroup cut their target price on shares of Waste Connections from $218.00 to $209.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Waste Connections presently has an average rating of “Moderate Buy” and an average price target of $204.43.

Waste Connections 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.