Waste Connections, Inc. (NYSE:WCN) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP boosted its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 41.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,944 shares of the business services provider's stock after buying an additional 5,882 shares during the period. First Trust Advisors LP's holdings in Waste Connections were worth $3,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors raised its position in Waste Connections by 17.8% in the fourth quarter. Capital International Investors now owns 5,949,152 shares of the business services provider's stock valued at $1,020,672,000 after purchasing an additional 899,058 shares during the period. Capital International Sarl increased its holdings in Waste Connections by 7.0% in the 4th quarter. Capital International Sarl now owns 9,093 shares of the business services provider's stock valued at $1,560,000 after purchasing an additional 592 shares during the last quarter. Marshall Wace LLP raised its position in Waste Connections by 315.7% in the fourth quarter. Marshall Wace LLP now owns 65,321 shares of the business services provider's stock valued at $11,208,000 after purchasing an additional 49,609 shares during the period. NewEdge Advisors LLC lifted its stake in Waste Connections by 5.1% during the fourth quarter. NewEdge Advisors LLC now owns 8,569 shares of the business services provider's stock worth $1,470,000 after purchasing an additional 414 shares in the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Waste Connections during the fourth quarter worth $3,199,000. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Stock Performance

Shares of Waste Connections stock traded up $0.03 during trading on Wednesday, reaching $198.41. The company's stock had a trading volume of 891,532 shares, compared to its average volume of 970,434. The company has a 50-day moving average price of $192.14 and a two-hundred day moving average price of $185.70. Waste Connections, Inc. has a fifty-two week low of $160.34 and a fifty-two week high of $201.66. The firm has a market cap of $51.26 billion, a PE ratio of 83.02, a P/E/G ratio of 3.07 and a beta of 0.66. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03.

Waste Connections (NYSE:WCN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.06. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The business had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the prior year, the company earned $1.04 earnings per share. The business's revenue was up 7.5% compared to the same quarter last year. On average, analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, May 7th. Waste Connections's dividend payout ratio (DPR) is presently 51.85%.

Analyst Ratings Changes

WCN has been the subject of several research reports. William Blair started coverage on Waste Connections in a research report on Thursday, April 3rd. They issued an "outperform" rating for the company. Jefferies Financial Group reduced their target price on shares of Waste Connections from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. BMO Capital Markets boosted their price target on shares of Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Truist Financial set a $220.00 price objective on Waste Connections in a research report on Friday, April 25th. Finally, Citigroup lifted their target price on Waste Connections from $209.00 to $212.00 and gave the company a "neutral" rating in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $208.21.

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.