Waste Connections, Inc. (NYSE:WCN) Stake Cut by Mirabaud Asset Management Ltd

Mirabaud Asset Management Ltd lowered its stake in Waste Connections, Inc. (NYSE:WCN) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,620 shares of the business services provider’s stock after selling 4,819 shares during the quarter. Waste Connections makes up 4.5% of Mirabaud Asset Management Ltd’s investment portfolio, making the stock its 6th largest position. Mirabaud Asset Management Ltd’s holdings in Waste Connections were worth $9,692,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of Waste Connections by 54.4% in the fourth quarter. Russell Investments Group Ltd. now owns 153,434 shares of the business services provider’s stock valued at $26,321,000 after acquiring an additional 54,038 shares during the period. Sit Investment Associates Inc. lifted its stake in Waste Connections by 0.3% in the 4th quarter. Sit Investment Associates Inc. now owns 62,551 shares of the business services provider’s stock worth $10,733,000 after purchasing an additional 199 shares in the last quarter. Oarsman Capital Inc. boosted its holdings in Waste Connections by 41.4% in the 4th quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 65 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of Waste Connections during the 4th quarter valued at $15,483,000. Finally, Bornite Capital Management LP grew its position in shares of Waste Connections by 111.7% during the 4th quarter. Bornite Capital Management LP now owns 211,700 shares of the business services provider’s stock valued at $36,323,000 after purchasing an additional 111,700 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Down 5.9 %

NYSE:WCN opened at $188.07 on Friday. The firm has a market capitalization of $48.59 billion, a P/E ratio of 78.69, a P/E/G ratio of 3.07 and a beta of 0.67. 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 fifty day moving average of $188.80 and a 200 day moving average of $183.26. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $201.66.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. On average, research analysts predict 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 was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a $0.315 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.67%. Waste Connections’s dividend payout ratio is currently 52.72%.

Analyst Ratings Changes

WCN has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. William Blair began coverage on shares of Waste Connections in a research report on Thursday. They issued an “outperform” rating on the stock. Jefferies Financial Group cut their price target on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Truist Financial reiterated a “buy” rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday, February 14th. Finally, Oppenheimer raised their price objective on Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.00.

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.