MassMutual Private Wealth & Trust FSB Sells 7,921 Shares of Waste Connections, Inc. (NYSE:WCN)

MassMutual Private Wealth & Trust FSB lessened its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 17.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,514 shares of the business services provider's stock after selling 7,921 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Waste Connections were worth $7,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Waste Connections in the 4th quarter worth $687,935,000. FIL Ltd grew 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 worth $1,231,368,000 after acquiring an additional 2,269,652 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Waste Connections in the 4th quarter worth $240,422,000. Capital International Investors grew its holdings in Waste Connections by 17.8% in 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 last quarter. Finally, Geode Capital Management LLC grew its holdings in Waste Connections by 239.9% in 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 last quarter. Institutional investors own 86.09% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WCN. Truist Financial set a $220.00 target price on shares of Waste Connections in a research note on Friday, April 25th. Morgan Stanley upped their target price on Waste Connections from $214.00 to $219.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. BMO Capital Markets boosted their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, Wall Street Zen lowered shares of Waste Connections from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $212.23.

Waste Connections Trading Down 0.8%

NYSE WCN traded down $1.59 during trading on Monday, hitting $195.50. The stock had a trading volume of 292,308 shares, compared to its average volume of 1,007,581. Waste Connections, Inc. has a one year low of $161.13 and a one year high of $201.66. The stock has a 50 day simple moving average of $194.10 and a 200 day simple moving average of $187.37. The stock has a market capitalization of $50.51 billion, a price-to-earnings ratio of 81.77, a P/E/G ratio of 3.07 and a beta of 0.66. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the business posted $1.04 EPS. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. Sell-side analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.64%. The ex-dividend date was Wednesday, May 7th. Waste Connections's payout ratio is 51.85%.

Waste Connections Company 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.