Allspring Global Investments Holdings LLC Purchases 65,844 Shares of Waste Connections, Inc. (NYSE:WCN)

Allspring Global Investments Holdings LLC increased its position in Waste Connections, Inc. (NYSE:WCN) by 14.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 508,810 shares of the business services provider’s stock after acquiring an additional 65,844 shares during the period. Allspring Global Investments Holdings LLC owned about 0.20% of Waste Connections worth $86,471,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Waste Connections by 8.8% during the 4th quarter. Fifth Third Bancorp now owns 705 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 57 shares during the period. Jennison Associates LLC boosted its holdings in shares of Waste Connections by 0.4% in 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. Continuum Advisory LLC boosted its holdings 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 worth $42,000 after buying an additional 83 shares during the last quarter. Kingsview Wealth Management LLC grew its position in Waste Connections by 6.3% during the third quarter. Kingsview Wealth Management LLC now owns 1,515 shares of the business services provider’s stock valued at $271,000 after buying an additional 90 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Waste Connections by 0.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,220 shares of the business services provider’s stock valued at $5,014,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Oppenheimer lifted their target price on Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Scotiabank reduced their price target on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating for the company in a research report on Monday, January 27th. Raymond James lowered their price objective on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. Finally, Royal Bank of Canada increased their target price on shares of Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.06.

Waste Connections Stock Performance

WCN opened at $189.54 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $48.91 billion, a price-to-earnings ratio of 52.07, a PEG ratio of 2.97 and a beta of 0.77. The company has a fifty day moving average of $179.45 and a 200 day moving average of $181.43. Waste Connections, Inc. has a fifty-two week low of $153.07 and a fifty-two week high of $194.83.

Waste Connections (NYSE:WCN) last released its quarterly earnings data 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 10.81% and a return on equity of 15.43%. As a group, sell-side analysts forecast that Waste Connections, Inc. will post 4.83 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.66%. Waste Connections’s dividend payout ratio is presently 34.62%.

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.