Proficio Capital Partners LLC Invests $66.39 Million in Waste Connections, Inc. (NYSE:WCN)

Proficio Capital Partners LLC bought a new position in shares of Waste Connections, Inc. (NYSE:WCN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 386,913 shares of the business services provider’s stock, valued at approximately $66,387,000. Proficio Capital Partners LLC owned about 0.15% of Waste Connections at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in WCN. Fifth Third Bancorp grew its stake in shares of Waste Connections by 8.8% during the fourth quarter. Fifth Third Bancorp now owns 705 shares of the business services provider’s stock worth $121,000 after acquiring an additional 57 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Waste Connections by 0.4% during the fourth quarter. Jennison Associates LLC now owns 14,247 shares of the business services provider’s stock worth $2,445,000 after acquiring an additional 63 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Waste Connections by 58.0% during the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock worth $42,000 after acquiring an additional 83 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in shares of 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 worth $271,000 after acquiring an additional 90 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of 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 worth $5,014,000 after acquiring an additional 92 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Trading Down 0.8 %

Shares of WCN stock opened at $186.35 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $48.09 billion, a price-to-earnings ratio of 77.97, a PEG ratio of 3.07 and a beta of 0.77. The stock has a 50 day simple moving average of $180.70 and a 200-day simple moving average of $182.22. Waste Connections, Inc. has a 1-year low of $160.34 and a 1-year high of $194.83.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate 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 expect that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, February 27th. Waste Connections’s dividend payout ratio is currently 52.72%.

Analysts Set New Price Targets

A number of brokerages recently commented on WCN. Truist Financial reiterated a “buy” rating and issued a $210.00 target price (up previously from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. CIBC dropped their target price on 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 lowered Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Stifel Nicolaus upped their target price on Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Oppenheimer boosted their price target on Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

Waste Connections Company 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.