R Squared Ltd Sells 2,110 Shares of Waste Connections, Inc. (NYSE:WCN)

Key Points

• R Squared Ltd has decreased its stake in Waste Connections, Inc. by 53.6% during the first quarter, reducing its holdings to 1,830 shares, valued at approximately $357,000.
• Several institutional investors have also adjusted their positions in Waste Connections, with notable increases from Ramirez Asset Management Inc. and Global Financial Private Client LLC during the same period.
• Analysts have generally positive views on Waste Connections, with a consensus rating of "Buy" and a price target averaging around $215.00, with some firms issuing a "strong buy" rating.

R Squared Ltd decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 53.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,830 shares of the business services provider's stock after selling 2,110 shares during the quarter. R Squared Ltd's holdings in Waste Connections were worth $357,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WCN. American Century Companies Inc. lifted its stake in Waste Connections by 1.0% in the fourth quarter. American Century Companies Inc. now owns 20,979 shares of the business services provider's stock valued at $3,600,000 after acquiring an additional 217 shares during the last quarter. LPL Financial LLC lifted its stake in Waste Connections by 26.9% in the fourth quarter. LPL Financial LLC now owns 43,564 shares of the business services provider's stock valued at $7,475,000 after acquiring an additional 9,240 shares during the last quarter. Geode Capital Management LLC lifted its stake in Waste Connections by 239.9% in the fourth quarter. Geode Capital Management LLC now owns 647,727 shares of the business services provider's stock valued at $115,558,000 after acquiring an additional 457,137 shares during the last quarter. Bornite Capital Management LP lifted its stake in Waste Connections by 111.7% in the fourth quarter. Bornite Capital Management LP now owns 211,700 shares of the business services provider's stock valued at $36,323,000 after acquiring an additional 111,700 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Waste Connections in the fourth quarter valued at $15,483,000. Institutional investors and hedge funds own 86.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup cut their price target on shares of Waste Connections from $208.00 to $204.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Raymond James Financial cut their price target on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a research note on Tuesday, July 22nd. BMO Capital Markets increased their price target on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Atb Cap Markets upgraded shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Melius Research upgraded shares of Waste Connections to a "strong-buy" rating and set a $213.00 target price for the company in a research note on Monday, June 9th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $215.00.

Waste Connections Stock Performance

NYSE:WCN traded down $0.03 during mid-day trading on Friday, reaching $186.64. 1,129,567 shares of the company's stock were exchanged, compared to its average volume of 1,421,564. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66. The firm has a market capitalization of $48.23 billion, a PE ratio of 75.26, a price-to-earnings-growth ratio of 3.36 and a beta of 0.58. The business's fifty day simple moving average is $187.34 and its two-hundred day simple moving average is $189.08. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm earned $1.24 earnings per share. Waste Connections's revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Wednesday, August 6th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 6th. Waste Connections's dividend payout ratio (DPR) is currently 50.81%.

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.