Envestnet Portfolio Solutions Inc. Decreases Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 32.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,501 shares of the business services provider's stock after selling 4,633 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Waste Connections were worth $1,854,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Private Trust Co. NA boosted its holdings in shares of Waste Connections by 153.3% in the fourth 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 stake in shares of Waste Connections in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC boosted 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 valued at $33,000 after acquiring an additional 71 shares in the last quarter. Oarsman Capital Inc. boosted its holdings in 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 buying an additional 65 shares in the last quarter. Finally, Global Financial Private Client LLC boosted its holdings in Waste Connections by 890.0% during the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock worth $39,000 after buying an additional 178 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Trading Up 0.3%

Shares of NYSE:WCN traded up $0.55 during trading on Tuesday, reaching $188.18. The stock had a trading volume of 701,003 shares, compared to its average volume of 998,302. The business has a fifty day moving average price of $193.14 and a 200-day moving average price of $187.33. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market cap of $48.62 billion, a P/E ratio of 77.44, a PEG ratio of 3.25 and a beta of 0.62. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week 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. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. Waste Connections's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.67%. The ex-dividend date was Wednesday, May 7th. Waste Connections's dividend payout ratio (DPR) is 51.85%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Melius assumed coverage on shares of Waste Connections in a report on Monday, June 9th. They set a "buy" rating on the stock. Truist Financial set a $220.00 price objective on shares of Waste Connections in a report on Friday, April 25th. Seaport Res Ptn raised shares of Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Citigroup lifted their target price on shares of Waste Connections from $209.00 to $212.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $212.29.

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.