Massachusetts Financial Services Co. MA Cuts Stake in Waste Connections, Inc. $WCN

Key Points

• Massachusetts Financial Services Co. cut its stake in Waste Connections by 1.7% in Q4, selling 6,747 shares and holding 387,552 shares (about 0.15% of the company) valued at $67.96 million.
• Waste Connections reported Q4 EPS of $1.29 (beating estimates by $0.01) and revenue of $2.35 billion (up 5% YoY); the company has a $40.72 billion market cap and a consensus analyst rating of Buy with a $202.81 price target.
• The company pays a quarterly dividend of $0.35 (annualized $1.40) for a 0.9% yield and a payout ratio of 33.57%.

Massachusetts Financial Services Co. MA cut its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 387,552 shares of the business services provider's stock after selling 6,747 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.15% of Waste Connections worth $67,961,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. City Holding Co. purchased a new position in Waste Connections in the fourth quarter valued at about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections during the third quarter valued at approximately $26,000. Asset Dedication LLC purchased a new stake in shares of Waste Connections during the second quarter valued at approximately $28,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Waste Connections during the third quarter valued at approximately $30,000. Finally, Greykasell Wealth Strategies Inc. raised its stake in shares of Waste Connections by 555.2% during the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider's stock valued at $33,000 after purchasing an additional 161 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Down 1.3%

Shares of NYSE:WCN opened at $159.56 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.07. The company has a fifty day simple moving average of $165.18 and a 200 day simple moving average of $169.50. The firm has a market cap of $40.72 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Waste Connections, Inc. has a 12-month low of $154.90 and a 12-month high of $199.78.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The business's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. On average, equities research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Wednesday, February 25th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, February 25th. Waste Connections's payout ratio is currently 33.57%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WCN. Wolfe Research began coverage on shares of Waste Connections in a research note on Friday, March 13th. They set an "outperform" rating and a $199.00 price objective on the stock. Stifel Nicolaus set a $213.00 price objective on shares of Waste Connections and gave the company a "buy" rating in a research note on Friday, February 13th. Morgan Stanley set a $205.00 price objective on shares of Waste Connections and gave the company an "overweight" rating in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce set a $208.00 target price on Waste Connections in a research report on Thursday, January 8th. Finally, TD Cowen dropped their target price on Waste Connections from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, February 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $202.81.

About Waste Connections

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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