Waste Connections, Inc. (NYSE:WCN) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its holdings in Waste Connections, Inc. (NYSE:WCN) by 38.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,087 shares of the business services provider’s stock after selling 26,210 shares during the quarter. Intact Investment Management Inc.’s holdings in Waste Connections were worth $7,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WCN. Impax Asset Management Group plc acquired a new position in shares of Waste Connections during the third quarter valued at $54,800,000. Principal Financial Group Inc. raised its stake in shares of Waste Connections by 307.1% during the third quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock valued at $344,615,000 after purchasing an additional 1,453,733 shares in the last quarter. Assetmark Inc. raised its stake in shares of Waste Connections by 93.1% during the third quarter. Assetmark Inc. now owns 504 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 243 shares in the last quarter. Atria Investments Inc raised its stake in shares of Waste Connections by 12.8% during the third quarter. Atria Investments Inc now owns 11,508 shares of the business services provider’s stock valued at $2,058,000 after purchasing an additional 1,306 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Waste Connections by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 292,005 shares of the business services provider’s stock valued at $52,216,000 after purchasing an additional 1,332 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Trading Up 0.0 %

Shares of WCN opened at $183.18 on Friday. The business’s 50-day moving average price is $183.81 and its 200 day moving average price is $182.54. The stock has a market capitalization of $47.27 billion, a P/E ratio of 76.65, a P/E/G ratio of 3.07 and a beta of 0.81. Waste Connections, Inc. has a 1-year low of $160.34 and a 1-year high of $194.83. 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 (NYSE:WCN) last issued its quarterly 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%. Analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.315 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.26 annualized dividend and a yield of 0.69%. Waste Connections’s dividend payout ratio (DPR) is presently 52.72%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Citigroup boosted their price target on shares of Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Jefferies Financial Group dropped their price target on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. CIBC dropped their price target 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. Finally, Morgan Stanley boosted their price target on shares of Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.43.

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.