Waste Connections, Inc. (NYSE:WCN) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 455,991 shares of the business services provider's stock after selling 11,113 shares during the period. Envestnet Asset Management Inc. owned 0.18% of Waste Connections worth $88,980,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of WCN. Aster Capital Management DIFC Ltd acquired a new stake in shares of Waste Connections during the fourth quarter valued at about $28,000. 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 valued at $33,000 after acquiring an additional 71 shares during the last quarter. Oarsman Capital Inc. increased its position in shares of Waste Connections by 41.4% during the fourth quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock valued at $38,000 after acquiring an additional 65 shares during the last quarter. Global Financial Private Client LLC increased its position in shares of Waste Connections by 890.0% during the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock valued at $39,000 after acquiring an additional 178 shares during the last quarter. Finally, Valley National Advisers Inc. increased its position in shares of Waste Connections by 232.3% during the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock valued at $41,000 after acquiring an additional 151 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WCN has been the subject of a number of recent analyst reports. Melius Research upgraded shares of Waste Connections to a "strong-buy" rating and set a $213.00 price target for the company in a research report on Monday, June 9th. William Blair initiated coverage on shares of Waste Connections in a research note on Thursday, April 3rd. They issued an "outperform" rating for the company. BMO Capital Markets raised their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Scotiabank raised their price objective on shares of Waste Connections from $192.00 to $207.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 8th. Finally, Seaport Res Ptn raised shares of Waste Connections to a "strong-buy" rating in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Waste Connections currently has a consensus rating of "Buy" and a consensus price target of $213.93.

Waste Connections Stock Up 0.6%

Waste Connections stock traded up $1.11 during trading on Monday, reaching $184.49. The stock had a trading volume of 1,134,982 shares, compared to its average volume of 1,117,272. Waste Connections, Inc. has a 52-week low of $169.36 and a 52-week high of $201.66. The business has a 50 day moving average price of $189.72 and a 200 day moving average price of $187.90. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market cap of $47.67 billion, a PE ratio of 75.92, a P/E/G ratio of 3.19 and a beta of 0.60.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter last year, the company earned $1.04 earnings per share. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were issued a dividend of $0.315 per share. The ex-dividend date was Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.68%. Waste Connections's payout ratio is currently 51.85%.

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.