Sovereign s Capital Management LLC Invests $424,000 in Waste Connections, Inc. (NYSE:WCN)

Sovereign s Capital Management LLC acquired a new stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,472 shares of the business services provider's stock, valued at approximately $424,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WCN. Barclays PLC increased its holdings in Waste Connections by 34.3% in the 3rd quarter. Barclays PLC now owns 303,040 shares of the business services provider's stock valued at $54,190,000 after acquiring an additional 77,466 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Waste Connections by 16.7% in the 4th quarter. Park Avenue Securities LLC now owns 7,945 shares of the business services provider's stock worth $1,362,000 after buying an additional 1,135 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Waste Connections during the 4th quarter worth about $316,000. Oak Ridge Investments LLC boosted its stake in shares of Waste Connections by 1.2% during the 4th quarter. Oak Ridge Investments LLC now owns 15,223 shares of the business services provider's stock worth $2,612,000 after purchasing an additional 183 shares during the period. Finally, Mechanics Bank Trust Department purchased a new position in shares of Waste Connections during the 4th quarter worth about $353,000. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Performance

Waste Connections stock traded down $1.07 during mid-day trading on Thursday, reaching $194.86. 1,097,436 shares of the company traded hands, compared to its average volume of 1,002,569. The firm's fifty day moving average is $193.26 and its two-hundred day moving average is $186.68. The company has a market capitalization of $50.35 billion, a price-to-earnings ratio of 81.53, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. Waste Connections, Inc. has a fifty-two week low of $160.34 and a fifty-two week high of $201.66. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.06. The business had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.22 billion. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $1.04 earnings per share. On average, equities research analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Scotiabank boosted their price objective on shares of Waste Connections from $192.00 to $207.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 8th. Citigroup boosted their price objective on shares of Waste Connections from $209.00 to $212.00 and gave the company a "neutral" rating in a research report on Tuesday, April 29th. Wall Street Zen lowered shares of Waste Connections from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Finally, Truist Financial set a $220.00 price target on shares of Waste Connections in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $208.21.

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.