Contravisory Investment Management Inc. Decreases Position in Waste Connections, Inc. (NYSE:WCN)

Contravisory Investment Management Inc. trimmed its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,826 shares of the business services provider's stock after selling 1,600 shares during the quarter. Waste Connections accounts for 1.7% of Contravisory Investment Management Inc.'s holdings, making the stock its 25th largest holding. Contravisory Investment Management Inc.'s holdings in Waste Connections were worth $8,164,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Manchester Capital Management LLC acquired a new position in shares of Waste Connections during the fourth quarter worth $26,000. Private Trust Co. NA lifted its holdings in shares of Waste Connections by 153.3% during the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock worth $26,000 after purchasing an additional 92 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Waste Connections during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Waste Connections during the fourth quarter worth $28,000. Finally, Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 71 shares during the period. 86.09% of the stock is owned by institutional investors.

Waste Connections Stock Down 1.0%

NYSE WCN traded down $1.87 during trading hours on Friday, hitting $190.21. The company's stock had a trading volume of 692,643 shares, compared to its average volume of 1,001,834. Waste Connections, Inc. has a 52 week low of $165.20 and a 52 week high of $201.66. The company has a market capitalization of $49.14 billion, a PE ratio of 79.58, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. 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's 50-day simple moving average is $193.97 and its two-hundred day simple moving average is $187.59.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.07 by $0.06. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter last year, the firm earned $1.04 EPS. The company's quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently declared 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 of this dividend was Wednesday, May 7th. This represents a $1.26 annualized dividend and a dividend yield of 0.66%. Waste Connections's payout ratio is currently 51.85%.

Analysts Set New Price Targets

A number of brokerages have recently commented on WCN. Seaport Res Ptn upgraded shares of Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $221.00 price target on shares of Waste Connections in a report on Friday, April 25th. Wall Street Zen lowered shares of Waste Connections from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Truist Financial set a $220.00 target price on shares of Waste Connections in a report on Friday, April 25th. Finally, Scotiabank boosted their target price on shares of Waste Connections from $192.00 to $207.00 and gave the company a "sector perform" rating in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.23.

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.