Triasima Portfolio Management inc. Reduces Position in Waste Connections, Inc. (NYSE:WCN)

Triasima Portfolio Management inc. cut its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 12.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,864 shares of the business services provider's stock after selling 24,068 shares during the period. Waste Connections accounts for approximately 2.2% of Triasima Portfolio Management inc.'s portfolio, making the stock its 16th largest position. Triasima Portfolio Management inc. owned 0.07% of Waste Connections worth $26,159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WCN. Simplicity Solutions LLC lifted its holdings in shares of Waste Connections by 114.2% during the fourth quarter. Simplicity Solutions LLC now owns 9,205 shares of the business services provider's stock valued at $1,374,000 after purchasing an additional 4,907 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of Waste Connections during the fourth quarter valued at approximately $208,000. NewEdge Wealth LLC purchased a new position in shares of Waste Connections during the fourth quarter valued at approximately $324,000. Highview Capital Management LLC DE lifted its holdings in shares of Waste Connections by 1.5% during the fourth quarter. Highview Capital Management LLC DE now owns 7,965 shares of the business services provider's stock valued at $1,189,000 after purchasing an additional 118 shares during the last quarter. Finally, Cassia Capital Partners LLC lifted its holdings in shares of Waste Connections by 6.4% during the fourth quarter. Cassia Capital Partners LLC now owns 3,285 shares of the business services provider's stock valued at $490,000 after purchasing an additional 199 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

Shares of WCN stock traded down $0.42 during mid-day trading on Friday, reaching $167.12. 677,374 shares of the company's stock traded hands, compared to its average volume of 597,826. Waste Connections, Inc. has a 12 month low of $126.12 and a 12 month high of $173.02. The firm has a 50 day moving average price of $167.03 and a two-hundred day moving average price of $150.01. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $43.12 billion, a PE ratio of 56.46, a price-to-earnings-growth ratio of 2.75 and a beta of 0.66.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.03. Waste Connections had a net margin of 9.51% and a return on equity of 14.42%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Waste Connections, Inc. will post 4.85 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Tuesday, February 27th. Waste Connections's payout ratio is 38.51%.

Insider Activity

In related news, Director Andrea E. Bertone sold 902 shares of Waste Connections stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $169.17, for a total transaction of $152,591.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.35% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group lowered shares of Waste Connections from a "buy" rating to a "neutral" rating and lifted their target price for the company from $170.00 to $181.00 in a report on Thursday, February 29th. Stifel Nicolaus boosted their price objective on shares of Waste Connections from $175.00 to $180.00 and gave the stock a "buy" rating in a report on Thursday, February 15th. StockNews.com upgraded shares of Waste Connections from a "hold" rating to a "buy" rating in a report on Thursday, March 21st. Oppenheimer boosted their price objective on shares of Waste Connections from $170.00 to $180.00 and gave the stock an "outperform" rating in a report on Monday, March 18th. Finally, BMO Capital Markets boosted their price objective on shares of Waste Connections from $166.00 to $178.00 and gave the stock an "outperform" rating in a report on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $177.69.

Waste Connections Company 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.