Waste Connections, Inc. (NYSE:WCN) Shares Purchased by Stockbridge Partners LLC

Stockbridge Partners LLC grew its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,968,464 shares of the business services provider's stock after purchasing an additional 127,454 shares during the period. Waste Connections makes up about 7.2% of Stockbridge Partners LLC's holdings, making the stock its 8th largest holding. Stockbridge Partners LLC owned approximately 0.76% of Waste Connections worth $337,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Waste Connections by 8.8% during the fourth quarter. Fifth Third Bancorp now owns 705 shares of the business services provider's stock worth $121,000 after purchasing an additional 57 shares in the last quarter. Jennison Associates LLC increased its position in shares of Waste Connections by 0.4% during the fourth quarter. Jennison Associates LLC now owns 14,247 shares of the business services provider's stock worth $2,445,000 after purchasing an additional 63 shares in the last quarter. Oarsman Capital Inc. increased its position in shares of Waste Connections by 41.4% during the fourth quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock worth $38,000 after purchasing an additional 65 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Finally, Inspire Advisors LLC increased its position in shares of Waste Connections by 2.3% during the fourth quarter. Inspire Advisors LLC now owns 3,943 shares of the business services provider's stock worth $676,000 after purchasing an additional 87 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Scotiabank raised their price target on Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Jefferies Financial Group lowered their price target on Waste Connections from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Truist Financial set a $220.00 price target on Waste Connections in a report on Friday, April 25th. Royal Bank of Canada reissued an "outperform" rating and set a $221.00 price target on shares of Waste Connections in a report on Friday, April 25th. Finally, BMO Capital Markets raised their price target on Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $208.21.

Waste Connections Stock Performance

WCN traded down $0.37 during trading on Wednesday, reaching $195.67. The company's stock had a trading volume of 1,168,491 shares, compared to its average volume of 1,001,144. The company's fifty day moving average price is $193.06 and its 200-day moving average price is $186.62. The company has a market capitalization of $50.55 billion, a price-to-earnings ratio of 81.87, a price-to-earnings-growth 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, Inc. has a 52-week low of $160.34 and a 52-week high of $201.66.

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

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, May 7th. Waste Connections's dividend payout ratio (DPR) is 51.85%.

About Waste Connections

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.