Tobam Reduces Stock Position in Waste Connections, Inc. (NYSE:WCN)

Tobam lessened its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 86.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 896 shares of the business services provider's stock after selling 5,599 shares during the period. Tobam's holdings in Waste Connections were worth $175,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WCN. Oarsman Capital Inc. boosted its holdings in Waste Connections by 41.4% in 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 during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Waste Connections by 28.9% in the 1st quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider's stock worth $57,000 after buying an additional 65 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Waste Connections by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock worth $33,000 after acquiring an additional 71 shares during the period. Integrated Advisors Network LLC increased its position in Waste Connections by 5.5% during the fourth quarter. Integrated Advisors Network LLC now owns 1,562 shares of the business services provider's stock valued at $268,000 after acquiring an additional 81 shares during the last quarter. Finally, Continuum Advisory LLC lifted its holdings in Waste Connections by 36.3% in the fourth quarter. Continuum Advisory LLC now owns 308 shares of the business services provider's stock valued at $53,000 after acquiring an additional 82 shares during the period. Institutional investors own 86.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WCN shares. Morgan Stanley upped their price target on shares of Waste Connections from $214.00 to $219.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Melius initiated coverage on shares of Waste Connections in a research note on Monday, June 9th. They set a "buy" rating on the stock. 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 cut Waste Connections from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Finally, Scotiabank upped their price target on Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $212.29.

Waste Connections Price Performance

Shares of WCN stock traded down $0.86 during mid-day trading on Friday, hitting $190.60. The company had a trading volume of 494,776 shares, compared to its average volume of 998,576. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The stock's 50 day moving average price is $193.90 and its 200-day moving average price is $187.57. Waste Connections, Inc. has a 52-week low of $166.44 and a 52-week high of $201.66. The company has a market capitalization of $49.25 billion, a P/E ratio of 79.75, a P/E/G ratio of 3.07 and a beta of 0.62.

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 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.04 EPS. Equities research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Wednesday, May 7th. Waste Connections's payout ratio 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.