Investment Management Corp of Ontario Trims Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Investment Management Corp of Ontario cut its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,295 shares of the business services provider's stock after selling 2,600 shares during the period. Investment Management Corp of Ontario's holdings in Waste Connections were worth $2,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Waste Connections by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 29,293,002 shares of the business services provider's stock valued at $5,025,836,000 after purchasing an additional 174,121 shares during the period. Bank of Montreal Can raised its position in Waste Connections by 4.3% during the fourth quarter. Bank of Montreal Can now owns 8,644,222 shares of the business services provider's stock valued at $1,481,041,000 after purchasing an additional 356,798 shares during the period. FIL Ltd raised its position in Waste Connections by 46.2% during the fourth quarter. FIL Ltd now owns 7,177,724 shares of the business services provider's stock valued at $1,231,368,000 after purchasing an additional 2,269,652 shares during the period. Capital International Investors raised its position in Waste Connections by 17.8% during 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. Finally, Price T Rowe Associates Inc. MD raised its position in Waste Connections by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,736,179 shares of the business services provider's stock valued at $984,214,000 after purchasing an additional 150,683 shares during the period. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WCN has been the topic of several recent analyst reports. Seaport Res Ptn upgraded Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. Truist Financial set a $220.00 price target on Waste Connections in a report on Friday, April 25th. Morgan Stanley increased their price objective on Waste Connections from $214.00 to $219.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. StockNews.com cut Waste Connections from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Finally, BMO Capital Markets increased their price objective on Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $208.21.

Waste Connections Stock Up 0.2%

Shares of WCN traded up $0.35 during midday trading on Wednesday, hitting $186.12. 1,190,072 shares of the company's stock traded hands, compared to its average volume of 986,382. Waste Connections, Inc. has a 1 year low of $160.34 and a 1 year high of $201.66. The firm's fifty day moving average is $192.35 and its 200-day moving average is $186.14. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $48.09 billion, a price-to-earnings ratio of 77.87, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.07 by $0.06. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 EPS. As a group, sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th will be paid a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.68%. Waste Connections's dividend payout ratio (DPR) is 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.