82,529 Shares in Waste Connections, Inc. (NYSE:WCN) Acquired by Sone Capital Management LLC

Sone Capital Management LLC purchased a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 82,529 shares of the business services provider's stock, valued at approximately $14,160,000. Waste Connections comprises 1.8% of Sone Capital Management LLC's holdings, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sovereign s Capital Management LLC purchased a new stake in Waste Connections in the fourth quarter valued at about $424,000. Twinbeech Capital LP raised its stake in shares of Waste Connections by 43.3% in the fourth quarter. Twinbeech Capital LP now owns 250,178 shares of the business services provider's stock worth $42,926,000 after purchasing an additional 75,616 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Waste Connections by 62.8% in the fourth quarter. Two Sigma Advisers LP now owns 962,850 shares of the business services provider's stock worth $165,206,000 after purchasing an additional 371,600 shares during the last quarter. Stockbridge Partners LLC raised its stake in shares of Waste Connections by 6.9% in the fourth quarter. Stockbridge Partners LLC now owns 1,968,464 shares of the business services provider's stock worth $337,749,000 after purchasing an additional 127,454 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Waste Connections by 22.1% in the fourth quarter. Toronto Dominion Bank now owns 802,848 shares of the business services provider's stock worth $137,568,000 after purchasing an additional 145,057 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WCN. BMO Capital Markets raised their price objective on Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Morgan Stanley raised their price objective on Waste Connections from $214.00 to $219.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Truist Financial set a $220.00 target price on Waste Connections in a report on Friday, April 25th. Scotiabank raised their target price on Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Finally, Seaport Res Ptn raised Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Waste Connections currently has a consensus rating of "Moderate Buy" and an average target price of $208.21.

Waste Connections Price Performance

Shares of NYSE WCN traded down $1.07 during midday trading on Thursday, hitting $194.86. The stock had a trading volume of 1,097,436 shares, compared to its average volume of 1,002,569. The company has a market capitalization of $50.35 billion, a PE ratio of 81.53, a P/E/G ratio of 3.07 and a beta of 0.66. The stock has a 50 day simple moving average of $193.26 and a 200-day simple moving average of $186.68. Waste Connections, Inc. has a 1 year low of $160.34 and a 1 year high of $201.66. 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 (NYSE:WCN - Get Free Report) last released its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.06. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 earnings per share. On average, sell-side analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.65%. Waste Connections's payout ratio is 51.85%.

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.