Voloridge Investment Management LLC Purchases 47,955 Shares of Waste Connections, Inc. (NYSE:WCN)

Voloridge Investment Management LLC increased its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 9.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 563,799 shares of the business services provider's stock after purchasing an additional 47,955 shares during the period. Voloridge Investment Management LLC owned about 0.22% of Waste Connections worth $96,737,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in Waste Connections by 8.8% in the 4th quarter. Fifth Third Bancorp now owns 705 shares of the business services provider's stock worth $121,000 after purchasing an additional 57 shares during the period. Jennison Associates LLC boosted its stake in Waste Connections by 0.4% in the 4th 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 during the period. Oarsman Capital Inc. boosted its stake in Waste Connections by 41.4% in the 4th 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 period. Smartleaf Asset Management LLC boosted its stake in Waste Connections by 59.7% in the 4th 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 during the period. Finally, Inspire Advisors LLC boosted its stake in Waste Connections by 2.3% in the 4th 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 during the period. Institutional investors and hedge funds own 86.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WCN shares. William Blair started coverage on shares of Waste Connections in a research note on Thursday, April 3rd. They issued an "outperform" rating for the company. Morgan Stanley increased their target price on shares of Waste Connections from $214.00 to $219.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Scotiabank increased their target price on shares of Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 8th. Truist Financial set a $220.00 target price on shares of Waste Connections in a research report on Friday, April 25th. Finally, Jefferies Financial Group cut their target price on shares of Waste Connections from $225.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $212.23.

Waste Connections Stock Up 0.9%

Shares of Waste Connections stock traded up $1.76 during midday trading on Friday, reaching $196.67. 859,473 shares of the company's stock traded hands, compared to its average volume of 1,006,335. The company has a market cap of $50.81 billion, a price-to-earnings ratio of 82.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. The company's 50 day simple moving average is $193.58 and its 200 day simple moving average is $186.98. 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 released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 6.92% and a return on equity of 15.54%. Waste Connections's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 EPS. Equities analysts expect 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 was paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th were issued a dividend of $0.315 per share. The ex-dividend date was Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.64%. Waste Connections's dividend payout ratio is currently 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.