Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Waste Connections, Inc. (NYSE:WCN)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Waste Connections, Inc. (NYSE:WCN) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,000,425 shares of the business services provider’s stock after acquiring an additional 36,343 shares during the quarter. Waste Connections comprises approximately 1.5% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 14th largest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Waste Connections were worth $342,739,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WCN. Principal Financial Group Inc. lifted its position in shares of Waste Connections by 307.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock worth $344,615,000 after buying an additional 1,453,733 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Waste Connections during the fourth quarter worth about $240,422,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Waste Connections by 432.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,259,312 shares of the business services provider’s stock worth $225,078,000 after purchasing an additional 1,022,851 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Waste Connections by 35.3% during the 3rd quarter. National Bank of Canada FI now owns 2,678,562 shares of the business services provider’s stock worth $478,777,000 after buying an additional 699,012 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Waste Connections by 199.4% in the third quarter. Two Sigma Advisers LP now owns 591,250 shares of the business services provider’s stock valued at $105,727,000 after buying an additional 393,763 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on WCN. Jefferies Financial Group reduced their target price on Waste Connections from $225.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, January 30th. CIBC decreased their price objective on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Truist Financial restated a “buy” rating and set a $210.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. Morgan Stanley lifted 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. Finally, Oppenheimer lifted their price objective on Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.43.

Waste Connections Trading Down 1.1 %

WCN stock opened at $184.26 on Wednesday. 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 company has a market cap of $47.55 billion, a price-to-earnings ratio of 77.10, a PEG ratio of 3.07 and a beta of 0.81. The business has a fifty day simple moving average of $183.31 and a 200-day simple moving average of $182.53. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $194.83.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. On average, equities research analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, February 27th. Waste Connections’s dividend payout ratio is presently 52.72%.

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.