Waste Connections, Inc. (NYSE:WCN) Short Interest Up 28.9% in May

Waste Connections, Inc. (NYSE:WCN - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 1,920,000 shares, a growth of 28.9% from the April 30th total of 1,490,000 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is presently 1.6 days.

Waste Connections Stock Up 0.2%

NYSE WCN traded up $0.46 on Thursday, hitting $191.99. 801,898 shares of the stock traded hands, compared to its average volume of 1,006,439. 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 50-day moving average of $194.15 and a 200 day moving average of $187.53. Waste Connections has a twelve month low of $165.20 and a twelve month high of $201.66. The company has a market capitalization of $49.60 billion, a P/E ratio of 80.33, 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 earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.06. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.22 billion. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. Waste Connections's revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $1.04 earnings per share. As a group, analysts expect that Waste Connections will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were given a dividend of $0.315 per share. The ex-dividend date was Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. Waste Connections's dividend payout ratio is currently 51.85%.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WCN shares. National Bank Financial raised shares of Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. BMO Capital Markets upped their price target on Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Seaport Res Ptn upgraded Waste Connections to a "strong-buy" rating in a research report on Tuesday, May 6th. Truist Financial set a $220.00 price objective on Waste Connections in a research report on Friday, April 25th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $221.00 target price on shares of Waste Connections in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $212.23.

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.