Mackenzie Financial Corp Has $741.15 Million Position in Waste Connections, Inc. (NYSE:WCN)

Mackenzie Financial Corp raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,324,863 shares of the business services provider's stock after acquiring an additional 149,712 shares during the period. Waste Connections comprises approximately 1.0% of Mackenzie Financial Corp's portfolio, making the stock its 23rd biggest holding. Mackenzie Financial Corp owned about 1.68% of Waste Connections worth $741,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new stake in Waste Connections during the 4th quarter valued at about $26,000. Private Trust Co. NA raised its stake in Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock worth $26,000 after acquiring an additional 92 shares during the period. Stonebridge Financial Group LLC bought a new stake in Waste Connections during the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd purchased a new stake in Waste Connections during the 4th quarter valued at approximately $28,000. Finally, Smartleaf Asset Management LLC boosted its stake in 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 buying an additional 71 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Performance

NYSE:WCN traded down $0.90 during mid-day trading on Thursday, hitting $194.58. 245,870 shares of the company's stock traded hands, compared to its average volume of 1,001,840. The firm has a 50 day moving average of $193.95 and a two-hundred day moving average of $187.22. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. Waste Connections, Inc. has a 12 month low of $160.34 and a 12 month high of $205.50. The firm has a market capitalization of $50.27 billion, a price-to-earnings ratio of 81.39, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The business's revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $1.04 EPS. On average, equities analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal 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. This represents a $1.26 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Wednesday, May 7th. Waste Connections's dividend payout ratio (DPR) is currently 51.85%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WCN shares. Wall Street Zen downgraded Waste Connections from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Scotiabank upped their target price on Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 8th. National Bank Financial raised Waste Connections to a "strong-buy" rating in a research note on Monday. Seaport Res Ptn raised Waste Connections to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Citigroup upped their target price on Waste Connections from $209.00 to $212.00 and gave the company a "neutral" rating in a report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Waste Connections currently has an average rating of "Moderate Buy" and a consensus target price of $212.23.

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.