Allspring Global Investments Holdings LLC Trims Holdings in Waste Connections, Inc. $WCN

Key Points

• Allspring Global Investments trimmed its stake in Waste Connections by 73.6% in Q4, selling 340,789 shares and holding 122,396 shares valued at $21.312 million at period-end.
• Analysts remain broadly positive, with an average rating of "Buy" and an average price target of $203.52, and individual targets cited in the ~$197–$212 range.
• Recent results show Q4 EPS of $1.29 (beat by $0.01) on $2.35 billion revenue (slightly below estimates), and the company pays a quarterly dividend of $0.35 (0.8% yield).

Allspring Global Investments Holdings LLC reduced its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 73.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,396 shares of the business services provider's stock after selling 340,789 shares during the period. Allspring Global Investments Holdings LLC's holdings in Waste Connections were worth $21,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new stake in Waste Connections in the 3rd quarter worth approximately $26,000. Asset Dedication LLC purchased a new position in shares of Waste Connections during the 2nd quarter worth $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Waste Connections during the 3rd quarter valued at $30,000. Greykasell Wealth Strategies Inc. increased its stake in shares of Waste Connections by 555.2% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider's stock worth $33,000 after purchasing an additional 161 shares in the last quarter. Finally, Caldwell Trust Co purchased a new stake in shares of Waste Connections in the 2nd quarter worth $49,000. Institutional investors own 86.09% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on WCN shares. Wolfe Research assumed coverage on shares of Waste Connections in a report on Friday, March 13th. They issued an "outperform" rating and a $199.00 target price on the stock. Scotiabank set a $197.00 price objective on Waste Connections and gave the stock a "sector outperform" rating in a research note on Friday, February 13th. Oppenheimer restated an "outperform" rating and set a $205.00 price objective (down from $206.00) on shares of Waste Connections in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on Waste Connections in a research note on Friday, February 13th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $210.00 price target (down from $219.00) on shares of Waste Connections in a report on Tuesday, February 17th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Connections currently has an average rating of "Buy" and an average price target of $203.52.

Waste Connections Trading Down 0.1%

Shares of WCN stock opened at $165.96 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.07. The business's 50 day moving average is $165.97 and its two-hundred day moving average is $170.05. Waste Connections, Inc. has a twelve month low of $154.90 and a twelve month high of $201.66. The company has a market capitalization of $42.36 billion, a P/E ratio of 39.80, a price-to-earnings-growth ratio of 2.85 and a beta of 0.61.

Waste Connections (NYSE:WCN - Get Free Report) last issued its earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.37 billion. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 EPS. Equities analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Wednesday, February 25th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, February 25th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections's dividend payout ratio is 33.57%.

Waste Connections Company Profile

Waste Connections NYSE: WCN is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company's operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.

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