Dynamic Technology Lab Private Ltd Decreases Holdings in Waste Connections, Inc. (NYSE:WCN)

Dynamic Technology Lab Private Ltd reduced its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 52.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,588 shares of the business services provider’s stock after selling 7,412 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Waste Connections were worth $1,130,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WCN. Barclays PLC raised its holdings in Waste Connections by 34.3% during the 3rd quarter. Barclays PLC now owns 303,040 shares of the business services provider’s stock valued at $54,190,000 after buying an additional 77,466 shares during the period. GAMMA Investing LLC increased its position in Waste Connections by 785.1% during the fourth quarter. GAMMA Investing LLC now owns 4,682 shares of the business services provider’s stock valued at $803,000 after acquiring an additional 4,153 shares during the last quarter. TCW Group Inc. raised its stake in shares of Waste Connections by 6.7% in the third quarter. TCW Group Inc. now owns 722,426 shares of the business services provider’s stock valued at $129,184,000 after acquiring an additional 45,215 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Waste Connections by 6.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 72,189 shares of the business services provider’s stock worth $12,909,000 after acquiring an additional 4,330 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in shares of Waste Connections by 20.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 129,256 shares of the business services provider’s stock worth $22,178,000 after acquiring an additional 22,310 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WCN. Truist Financial reissued a “buy” rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. William Blair assumed coverage on Waste Connections in a research note on Thursday. They set an “outperform” rating for the company. Scotiabank cut their price objective on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a research report on Monday, January 27th. CIBC decreased their target price on Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, Stifel Nicolaus upped their price target on shares of Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.00.

Waste Connections Stock Performance

Shares of WCN stock opened at $188.07 on Friday. Waste Connections, Inc. has a 12-month low of $160.34 and a 12-month high of $201.66. The business’s fifty day simple moving average is $188.80 and its 200-day simple moving average is $183.27. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The company has a market cap of $48.59 billion, a PE ratio of 78.69, a PEG ratio of 3.07 and a beta of 0.67.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 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%. Analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, February 27th. Waste Connections’s dividend payout ratio is presently 52.72%.

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.