CIBC Asset Management Inc Has $163.58 Million Position in Waste Connections, Inc. (NYSE:WCN)

CIBC Asset Management Inc cut its holdings in Waste Connections, Inc. (NYSE:WCN) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 952,003 shares of the business services provider’s stock after selling 7,822 shares during the quarter. CIBC Asset Management Inc’s holdings in Waste Connections were worth $163,575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Manchester Capital Management LLC acquired a new position in Waste Connections during the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Waste Connections in the fourth quarter worth $27,000. Global Trust Asset Management LLC acquired a new position in Waste Connections during the third quarter worth $36,000. Sierra Ocean LLC bought a new position in Waste Connections in the fourth quarter valued at $39,000. Finally, FSA Wealth Management LLC acquired a new stake in Waste Connections in the 3rd quarter valued at $40,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WCN. Truist Financial restated a “buy” rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday. StockNews.com cut Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley boosted their price target on Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday. Raymond James lowered their target price on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Finally, CIBC decreased their price objective on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and an average target price of $201.00.

Waste Connections Stock Up 0.1 %

NYSE WCN opened at $189.08 on Monday. The company has a market cap of $48.80 billion, a price-to-earnings ratio of 51.94, a PEG ratio of 2.97 and a beta of 0.77. Waste Connections, Inc. has a 1-year low of $160.34 and a 1-year high of $194.83. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average of $179.36 and a 200-day moving average of $181.70.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. On average, equities research analysts expect that Waste Connections, Inc. will post 4.83 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, February 27th. Waste Connections’s dividend payout ratio (DPR) is presently 34.62%.

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.