Waste Connections, Inc. (NYSE:WCN) Shares Sold by TCW Group Inc.

Key Points

• TCW Group Inc. reduced its stake in Waste Connections by 2.4% during the first quarter, now owning approximately 0.26% of the company valued at $130.9 million.
• Analysts have mixed views on Waste Connections, with Citigroup raising its price target to $212 while Melius Research upgraded it to a strong-buy with a target of $213.
• Waste Connections has announced a quarterly dividend of $0.315 per share, representing a 0.67% yield, with an ex-dividend date set for August 6th.

TCW Group Inc. trimmed its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 670,420 shares of the business services provider's stock after selling 16,671 shares during the period. Waste Connections makes up 1.2% of TCW Group Inc.'s investment portfolio, making the stock its 23rd largest holding. TCW Group Inc. owned 0.26% of Waste Connections worth $130,859,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd purchased a new stake in Waste Connections during the fourth quarter valued at approximately $28,000. Larson Financial Group LLC increased its holdings in Waste Connections by 994.4% during the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock valued at $38,000 after buying an additional 179 shares during the last quarter. Global Financial Private Client LLC increased 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 valued at $39,000 after buying an additional 178 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of Waste Connections by 232.3% in the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock worth $41,000 after purchasing an additional 151 shares in the last quarter. Finally, Oarsman Capital Inc. increased its stake in shares of 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 in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WCN shares. Truist Financial set a $220.00 price objective on shares of Waste Connections in a research note on Friday, April 25th. Raymond James Financial lowered their price objective on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a research report on Tuesday, July 22nd. William Blair initiated coverage on shares of Waste Connections in a research report on Thursday, April 3rd. They set an "outperform" rating for the company. Atb Cap Markets upgraded shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Finally, Seaport Res Ptn upgraded shares of Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $215.00.

Waste Connections Stock Down 0.7%

NYSE WCN traded down $1.31 during trading on Thursday, reaching $187.88. 772,573 shares of the company's stock traded hands, compared to its average volume of 1,143,284. The company's 50 day simple moving average is $187.70 and its two-hundred day simple moving average is $188.85. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66. The firm has a market cap of $48.55 billion, a price-to-earnings ratio of 75.82, a price-to-earnings-growth ratio of 3.46 and a beta of 0.60.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Wednesday, August 6th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Wednesday, August 6th. Waste Connections's dividend payout ratio (DPR) is presently 50.81%.

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.