Gallo Partners LP bought a new stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 20,295 shares of the business services provider's stock, valued at approximately $3,482,000. Waste Connections comprises approximately 2.6% of Gallo Partners LP's investment portfolio, making the stock its 9th biggest holding.
Other hedge funds have also made changes to their positions in the company. Private Trust Co. NA increased its stake in Waste Connections by 153.3% in the fourth 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 position in shares of Waste Connections during the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new position in shares of Waste Connections during the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd acquired a new stake in Waste Connections in the 4th quarter valued at $28,000. Finally, Smartleaf Asset Management LLC grew its position in Waste Connections by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock valued at $33,000 after acquiring an additional 71 shares during the period. Institutional investors own 86.09% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on WCN shares. Royal Bank of Canada reiterated an "outperform" rating and set a $221.00 target price on shares of Waste Connections in a research report on Friday, April 25th. BMO Capital Markets increased their price target on Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. StockNews.com downgraded Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Jefferies Financial Group decreased their target price on Waste Connections from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Finally, Citigroup lifted their price target on Waste Connections from $209.00 to $212.00 and gave the company a "neutral" rating in a report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Waste Connections has an average rating of "Moderate Buy" and a consensus target price of $208.21.
Check Out Our Latest Analysis on Waste Connections
Waste Connections Trading Up 0.8 %
NYSE WCN traded up $1.58 during trading hours on Friday, hitting $197.76. The company's stock had a trading volume of 664,473 shares, compared to its average volume of 975,287. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $201.66. The firm has a market capitalization of $51.09 billion, a P/E ratio of 82.74, a PEG ratio of 3.07 and a beta of 0.66. The stock has a fifty day moving average of $191.70 and a 200 day moving average of $185.48.
Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.06. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.22 billion. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 earnings per share. Equities research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.
Waste Connections Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th will be paid a $0.315 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.64%. Waste Connections's payout ratio is 51.85%.
About Waste Connections
(
Free Report)
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.
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