Financiere des Professionnels Fonds d investissement inc. Has $1.59 Million Holdings in Waste Connections, Inc. (NYSE:WCN)

Financiere des Professionnels Fonds d investissement inc. cut its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 14.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,125 shares of the business services provider's stock after selling 1,416 shares during the period. Financiere des Professionnels Fonds d investissement inc.'s holdings in Waste Connections were worth $1,586,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Norges Bank bought a new position in Waste Connections in the fourth quarter worth $687,935,000. FIL Ltd increased its holdings in Waste Connections by 46.2% in the 4th quarter. FIL Ltd now owns 7,177,724 shares of the business services provider's stock valued at $1,231,368,000 after buying an additional 2,269,652 shares during the period. GAMMA Investing LLC raised its stake in shares of Waste Connections by 19,519.1% in the 1st quarter. GAMMA Investing LLC now owns 918,564 shares of the business services provider's stock valued at $179,295,000 after buying an additional 913,882 shares in the last quarter. Capital International Investors lifted its holdings in shares of Waste Connections by 17.8% during the 4th quarter. Capital International Investors now owns 5,949,152 shares of the business services provider's stock worth $1,020,672,000 after acquiring an additional 899,058 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Waste Connections by 239.9% during the 4th quarter. Geode Capital Management LLC now owns 647,727 shares of the business services provider's stock worth $115,558,000 after acquiring an additional 457,137 shares during the period. Institutional investors and hedge funds own 86.09% of the company's stock.

Wall Street Analyst Weigh In

WCN has been the subject of several analyst reports. Melius Research upgraded Waste Connections to a "strong-buy" rating and set a $213.00 target price for the company in a research report on Monday, June 9th. Truist Financial set a $220.00 target price on shares of Waste Connections in a research note on Friday, April 25th. William Blair initiated coverage on shares of Waste Connections in a report on Thursday, April 3rd. They issued an "outperform" rating on the stock. Seaport Res Ptn raised shares of Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Scotiabank upped their price objective on shares of Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 8th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $212.29.

Waste Connections Trading Up 1.0%

Waste Connections stock opened at $179.85 on Friday. The stock has a 50-day simple moving average of $191.12 and a 200 day simple moving average of $187.46. Waste Connections, Inc. has a 52 week low of $169.36 and a 52 week high of $201.66. The stock has a market capitalization of $46.47 billion, a P/E ratio of 74.01, a PEG ratio of 3.14 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.70 and a current ratio of 0.70.

Waste Connections (NYSE:WCN - Get Free Report) last announced 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. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.22 billion. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $1.04 earnings per share. Analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.70%. Waste Connections's dividend payout ratio (DPR) is currently 51.85%.

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.

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