Intact Investment Management Inc. Has $3.39 Million Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Intact Investment Management Inc. decreased its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 57.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,367 shares of the business services provider's stock after selling 23,720 shares during the period. Intact Investment Management Inc.'s holdings in Waste Connections were worth $3,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WCN. Norges Bank bought a new stake in Waste Connections in the fourth quarter valued at approximately $687,935,000. FIL Ltd raised its stake in Waste Connections by 46.2% in the fourth 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. Raymond James Financial Inc. bought a new stake in Waste Connections in the fourth quarter valued at approximately $240,422,000. GAMMA Investing LLC raised its stake in Waste Connections by 19,519.1% in the first 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 during the period. Finally, Capital International Investors raised its stake in Waste Connections by 17.8% in the fourth quarter. Capital International Investors now owns 5,949,152 shares of the business services provider's stock valued at $1,020,672,000 after buying an additional 899,058 shares during the period. Institutional investors own 86.09% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on WCN. Melius Research upgraded Waste Connections to a "strong-buy" rating and set a $213.00 price objective on the stock in a research note on Monday, June 9th. BMO Capital Markets increased their target price on Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. National Bank Financial upgraded Waste Connections to a "strong-buy" rating in a research note on Monday, May 26th. Truist Financial set a $220.00 target price on Waste Connections in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their target price on Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $212.29.

Waste Connections Price Performance

Waste Connections stock opened at $185.60 on Friday. The stock's fifty day moving average price is $193.46 and its two-hundred day moving average price is $187.36. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $47.96 billion, a PE ratio of 76.38, a price-to-earnings-growth ratio of 3.22 and a beta of 0.62.

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

Waste Connections Dividend Announcement

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

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