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

Mackenzie Financial Corp boosted its stake 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 SEC. The institutional investor owned 4,324,863 shares of the business services provider's stock after purchasing an additional 149,712 shares during the period. Waste Connections comprises approximately 1.0% of Mackenzie Financial Corp's holdings, making the stock its 23rd largest position. Mackenzie Financial Corp owned approximately 1.68% of Waste Connections worth $741,147,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Parr Mcknight Wealth Management Group LLC purchased a new position in Waste Connections during the fourth quarter valued at approximately $1,061,000. Vise Technologies Inc. lifted its stake in shares of Waste Connections by 76.8% in the 4th quarter. Vise Technologies Inc. now owns 3,624 shares of the business services provider's stock valued at $622,000 after purchasing an additional 1,574 shares during the last quarter. Highview Capital Management LLC DE increased its position in Waste Connections by 5.3% during the fourth quarter. Highview Capital Management LLC DE now owns 6,814 shares of the business services provider's stock worth $1,169,000 after buying an additional 344 shares during the last quarter. EDENTREE ASSET MANAGEMENT Ltd acquired a new position in Waste Connections during the fourth quarter worth $8,172,000. Finally, Continuum Advisory LLC raised its holdings in Waste Connections by 36.3% during the fourth quarter. Continuum Advisory LLC now owns 308 shares of the business services provider's stock valued at $53,000 after buying an additional 82 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WCN shares. Truist Financial set a $220.00 price target on Waste Connections in a research note on Friday, April 25th. Seaport Res Ptn raised Waste Connections to a "strong-buy" rating in a research report on Tuesday, May 6th. Morgan Stanley increased their price target on Waste Connections from $214.00 to $219.00 and gave the company an "overweight" rating in a report on Friday, February 14th. BMO Capital Markets upped their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, Jefferies Financial Group decreased their price objective on shares of Waste Connections from $225.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $212.23.

Waste Connections Stock Performance

Waste Connections stock traded down $0.58 during mid-day trading on Tuesday, reaching $196.26. The company had a trading volume of 768,034 shares, compared to its average volume of 1,005,381. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $201.66. The company has a 50 day moving average of $193.70 and a 200-day moving average of $187.10. The firm has a market cap of $50.71 billion, a price-to-earnings ratio of 82.12, a PEG ratio of 3.07 and a beta of 0.66.

Waste Connections (NYSE:WCN - Get Free Report) last issued 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. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the firm earned $1.04 EPS. The business's revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Wednesday, May 7th. Waste Connections's dividend payout ratio is 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.