1,700 Shares in Waste Connections, Inc. (NYSE:WCN) Purchased by Arrowpoint Investment Partners Singapore Pte. Ltd.

Key Points

• Arrowpoint Investment Partners acquired 1,700 shares of Waste Connections, Inc., valued at approximately $332,000, in the first quarter of the year.
• The consensus rating for Waste Connections is a "Buy", with analysts setting a target price of $215.00, and a mix of ratings from "hold" to "strong buy" from various firms.
• Waste Connections recently declared a quarterly dividend of $0.315, resulting in an annualized dividend yield of 0.7%, with the next payment due on August 21st.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,700 shares of the business services provider's stock, valued at approximately $332,000.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Waste Connections by 3.3% during the first quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider's stock worth $5,901,049,000 after purchasing an additional 954,242 shares during the last quarter. WCM Investment Management LLC boosted its holdings in Waste Connections by 0.3% during the first quarter. WCM Investment Management LLC now owns 6,383,780 shares of the business services provider's stock worth $1,230,984,000 after purchasing an additional 18,400 shares during the last quarter. Capital International Investors boosted its holdings in Waste Connections by 17.8% during the fourth quarter. Capital International Investors now owns 5,949,152 shares of the business services provider's stock worth $1,020,672,000 after purchasing an additional 899,058 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Waste Connections by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,736,179 shares of the business services provider's stock worth $984,214,000 after purchasing an additional 150,683 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Waste Connections by 5.8% during the first quarter. Mackenzie Financial Corp now owns 4,575,547 shares of the business services provider's stock worth $892,023,000 after purchasing an additional 250,684 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on WCN. Truist Financial set a $220.00 target price on shares of Waste Connections in a report on Friday, April 25th. Scotiabank increased their target price on shares of Waste Connections from $202.00 to $208.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Citigroup reduced their target price on shares of Waste Connections from $208.00 to $204.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Oppenheimer increased their price target on shares of Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Atb Cap Markets upgraded shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Waste Connections presently has a consensus rating of "Buy" and an average price target of $215.00.

Waste Connections Stock Performance

Shares of WCN traded down $0.86 during trading hours on Thursday, hitting $184.88. The company had a trading volume of 868,520 shares, compared to its average volume of 1,244,347. The firm has a market cap of $47.77 billion, a price-to-earnings ratio of 74.55, a PEG ratio of 3.35 and a beta of 0.58. The business has a fifty day moving average of $186.02 and a 200-day moving average of $189.54. Waste Connections, Inc. has a 12 month low of $169.36 and a 12 month high of $201.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The company's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 earnings per share. Equities analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Wednesday, August 6th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 6th. Waste Connections's dividend payout ratio (DPR) is currently 50.81%.

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.