Waste Connections, Inc. (NYSE:WCN) is Baskin Financial Services Inc.'s 4th Largest Position

Baskin Financial Services Inc. reduced its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 291,919 shares of the business services provider's stock after selling 2,428 shares during the quarter. Waste Connections accounts for approximately 4.6% of Baskin Financial Services Inc.'s holdings, making the stock its 4th biggest holding. Baskin Financial Services Inc. owned approximately 0.11% of Waste Connections worth $56,893,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in Waste Connections by 19.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider's stock worth $1,379,000 after purchasing an additional 1,137 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Waste Connections by 41.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider's stock worth $3,843,000 after purchasing an additional 5,733 shares during the period. Steward Partners Investment Advisory LLC raised its position in Waste Connections by 30.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,521 shares of the business services provider's stock worth $604,000 after purchasing an additional 829 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock worth $33,000 after acquiring an additional 71 shares during the period. Finally, Merit Financial Group LLC increased its position in shares of Waste Connections by 92.8% during the first quarter. Merit Financial Group LLC now owns 3,551 shares of the business services provider's stock worth $693,000 after acquiring an additional 1,709 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Up 1.0%

WCN traded up $1.75 during trading on Friday, hitting $179.85. The stock had a trading volume of 1,360,724 shares, compared to its average volume of 1,010,927. The company has a market capitalization of $46.47 billion, a PE ratio of 74.01, a PEG ratio of 3.14 and a beta of 0.60. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50 day simple moving average of $191.12 and a two-hundred day simple moving average of $187.56.

Waste Connections (NYSE:WCN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.06. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm earned $1.04 earnings per share. Waste Connections's revenue was up 7.5% compared to the same quarter last year. On average, research analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th were paid a dividend of $0.315 per share. The ex-dividend date was Wednesday, May 7th. This represents a $1.26 annualized dividend and a dividend yield of 0.70%. Waste Connections's payout ratio is currently 51.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Scotiabank raised their target price on shares of Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 8th. Truist Financial set a $220.00 target price on shares of Waste Connections in a research report on Friday, April 25th. Citigroup raised their target price on shares of Waste Connections from $209.00 to $212.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised their target price on shares of Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Seaport Res Ptn raised shares of Waste Connections to a "strong-buy" rating in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Waste Connections currently has a consensus rating of "Buy" and a consensus price target of $212.29.

Waste Connections 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.