Waste Connections, Inc. (NYSE:WCN) Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 499,338 shares of the business services provider's stock after selling 9,472 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.19% of Waste Connections worth $98,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WCN. Private Trust Co. NA grew its stake in Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock valued at $26,000 after acquiring an additional 92 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Waste Connections during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC grew its stake in Waste Connections by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock valued at $33,000 after acquiring an additional 71 shares in the last quarter. Oarsman Capital Inc. grew its stake in Waste Connections by 41.4% during the 4th quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock valued at $38,000 after acquiring an additional 65 shares in the last quarter. Finally, Global Financial Private Client LLC grew its stake in Waste Connections by 890.0% during the 1st quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock valued at $39,000 after acquiring an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Stock Down 0.8%

WCN opened at $185.96 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.70 and a current ratio of 0.70. The business has a 50 day moving average price of $192.50 and a 200 day moving average price of $187.35. The firm has a market cap of $48.05 billion, a P/E ratio of 76.53, a price-to-earnings-growth ratio of 3.22 and a beta of 0.62. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last issued 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 company 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 15.74% and a net margin of 6.93%. The company's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 EPS. Research analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, May 7th. Waste Connections's dividend payout ratio is currently 51.85%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup lifted their target price on Waste Connections from $209.00 to $212.00 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. Melius assumed coverage on Waste Connections in a report on Monday, June 9th. They set a "buy" rating for the company. JPMorgan Chase & Co. lifted their price target on Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Melius Research upgraded Waste Connections to a "strong-buy" rating and set a $213.00 price target for the company in a report on Monday, June 9th. Finally, Scotiabank lifted their price target on Waste Connections from $192.00 to $207.00 and gave the company a "sector perform" rating in a report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $212.29.

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.

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