Fiera Capital Corp Has $485.07 Million Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• Fiera Capital Corp increased its stake in Waste Connections by 2.6% in the fourth quarter, buying 70,396 additional shares. The firm now owns 2,764,876 shares worth about $485.1 million, making WCN its 17th-largest holding.
• Waste Connections reported better-than-expected EPS of $1.23 in its latest quarter, though revenue came in below estimates at $2.33 billion. Revenue still rose 6.4% year over year, and analysts expect full-year EPS of about 5.5.
• Wall Street remains broadly positive on the stock, with an average “Buy” rating and a consensus price target of $203.35. Several analysts recently reiterated bullish targets around $205 to $212, while insiders sold shares during the period.

Fiera Capital Corp raised its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,764,876 shares of the business services provider's stock after buying an additional 70,396 shares during the quarter. Waste Connections accounts for about 1.5% of Fiera Capital Corp's holdings, making the stock its 17th biggest position. Fiera Capital Corp owned approximately 1.08% of Waste Connections worth $485,067,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Ritholtz Wealth Management increased its stake in Waste Connections by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider's stock valued at $533,000 after buying an additional 64 shares during the period. Kestra Private Wealth Services LLC increased its stake in Waste Connections by 2.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider's stock valued at $449,000 after buying an additional 64 shares during the period. WPG Advisers LLC increased its stake in Waste Connections by 7.7% in the 4th quarter. WPG Advisers LLC now owns 919 shares of the business services provider's stock valued at $161,000 after buying an additional 66 shares during the period. RDA Financial Network increased its stake in Waste Connections by 2.8% in the 4th quarter. RDA Financial Network now owns 2,459 shares of the business services provider's stock valued at $431,000 after buying an additional 67 shares during the period. Finally, Integrated Advisors Network LLC grew its position in Waste Connections by 4.3% in the third quarter. Integrated Advisors Network LLC now owns 1,685 shares of the business services provider's stock worth $296,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Price Performance

NYSE WCN opened at $155.29 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. The company has a fifty day simple moving average of $158.05 and a 200 day simple moving average of $165.71. The company has a market cap of $39.40 billion, a P/E ratio of 37.87, a P/E/G ratio of 2.76 and a beta of 0.51. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $193.08.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. Waste Connections's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. On average, sell-side analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 6th. Waste Connections's dividend payout ratio is currently 34.15%.

Insider Buying and Selling

In other Waste Connections news, VP James Little sold 2,605 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $163.98, for a total value of $427,167.90. Following the completion of the sale, the vice president directly owned 34,395 shares of the company's stock, valued at $5,640,092.10. This represents a 7.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Hansen sold 6,000 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $164.82, for a total transaction of $988,920.00. Following the completion of the sale, the senior vice president directly owned 13,350 shares of the company's stock, valued at approximately $2,200,347. This trade represents a 31.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

WCN has been the subject of several recent research reports. The Goldman Sachs Group reissued a "buy" rating and issued a $211.00 target price on shares of Waste Connections in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft set a $212.00 target price on shares of Waste Connections in a research report on Friday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of Waste Connections from $195.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Morgan Stanley set a $205.00 target price on shares of Waste Connections and gave the stock an "overweight" rating in a research report on Friday, February 13th. Finally, Weiss Ratings downgraded shares of Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Four 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 company. According to data from MarketBeat, Waste Connections has an average rating of "Buy" and a consensus price target of $203.35.

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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