Silvercrest Asset Management Group LLC Reduces Position in Waste Connections, Inc. (NYSE:WCN)

Silvercrest Asset Management Group LLC cut its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 712,648 shares of the business services provider's stock after selling 12,610 shares during the quarter. Waste Connections makes up about 0.8% of Silvercrest Asset Management Group LLC's investment portfolio, making the stock its 16th largest position. Silvercrest Asset Management Group LLC owned 0.28% of Waste Connections worth $122,276,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Manchester Capital Management LLC bought a new position in shares of Waste Connections during the fourth quarter valued at about $26,000. Private Trust Co. NA grew its position in Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock worth $26,000 after acquiring an additional 92 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in Waste Connections during the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in Waste Connections in the 4th quarter worth approximately $28,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock valued at $33,000 after purchasing an additional 71 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Up 0.8%

Shares of NYSE:WCN traded up $1.44 on Monday, hitting $193.36. 1,340,493 shares of the company traded hands, compared to its average volume of 994,743. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $201.66. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $192.60 and a 200-day simple moving average of $186.44. The company has a market cap of $49.96 billion, a PE ratio of 80.90, a PEG ratio of 3.07 and a beta of 0.66.

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

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.26 annualized dividend and a dividend yield of 0.65%. Waste Connections's dividend payout ratio (DPR) is presently 51.85%.

Wall Street Analysts Forecast Growth

WCN has been the subject of a number of recent analyst reports. William Blair started coverage on Waste Connections in a research report on Thursday, April 3rd. They set an "outperform" rating for the company. BMO Capital Markets raised their price target on Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Citigroup raised their price target on Waste Connections from $209.00 to $212.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. Truist Financial set a $220.00 price target on Waste Connections in a research note on Friday, April 25th. Finally, Morgan Stanley raised their price target on Waste Connections from $214.00 to $219.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $208.21.

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.