MQS Management LLC Sells 5,612 Shares of Waste Connections, Inc. (NYSE:WCN)

MQS Management LLC decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 82.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,184 shares of the business services provider’s stock after selling 5,612 shares during the period. Waste Connections comprises approximately 5.8% of MQS Management LLC’s holdings, making the stock its 11th largest position. MQS Management LLC’s holdings in Waste Connections were worth $203,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Private Trust Co. NA grew its position in shares of Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 92 shares during the period. Manchester Capital Management LLC bought a new stake in shares of Waste Connections during the 4th quarter valued at $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Waste Connections during the 4th quarter valued at $27,000. Smartleaf Asset Management LLC lifted its stake in shares of Waste Connections by 59.7% during the 4th 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 in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Waste Connections during the 3rd quarter valued at $40,000. Institutional investors own 86.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WCN shares. CIBC lowered 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 note on Thursday, December 19th. StockNews.com cut shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Stifel Nicolaus lifted their target price on shares of Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Morgan Stanley lifted their target price on shares of Waste Connections from $214.00 to $219.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, 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. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Connections currently has a consensus rating of “Moderate Buy” and an average price target of $202.43.

Waste Connections Stock Performance

Waste Connections stock opened at $188.35 on Monday. The company’s 50-day moving average price is $182.76 and its 200-day moving average price is $182.54. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $194.83. 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 company has a market cap of $48.61 billion, a PE ratio of 78.81, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81.

Waste Connections (NYSE:WCN) last posted its 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 return on equity of 15.54% and a net margin of 6.92%. On average, equities research analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a $0.315 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.67%. Waste Connections’s dividend payout ratio (DPR) is presently 52.72%.

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.