Modern Wealth Management LLC Purchases New Shares in Waste Connections, Inc. (NYSE:WCN)

Modern Wealth Management LLC acquired a new position in Waste Connections, Inc. (NYSE:WCN) in the fourth quarter, Holdings Channel reports. The fund acquired 1,280 shares of the business services provider’s stock, valued at approximately $243,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WCN. Manchester Capital Management LLC bought a new position in shares of Waste Connections in the fourth quarter valued at approximately $26,000. Private Trust Co. NA boosted its position in Waste Connections by 153.3% in the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after purchasing an additional 92 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Waste Connections in the fourth quarter worth $27,000. Smartleaf Asset Management LLC grew its stake in Waste Connections by 59.7% in the 4th 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. Finally, Sierra Ocean LLC purchased a new stake in shares of Waste Connections during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

WCN has been the subject of several research reports. Jefferies Financial Group reduced 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 report on Thursday, January 30th. StockNews.com cut shares of Waste Connections from a “buy” rating to a “hold” rating in a report on Friday, February 14th. CIBC dropped their price objective on Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Truist Financial restated a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Finally, Morgan Stanley increased 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 analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Waste Connections currently has an average rating of “Moderate Buy” and a consensus price target of $202.43.

Waste Connections Price Performance

WCN stock opened at $192.80 on Friday. The firm has a 50 day moving average of $187.14 and a 200-day moving average of $182.92. The firm has a market capitalization of $49.76 billion, a P/E ratio of 80.67, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. Waste Connections, Inc. has a 12 month low of $160.34 and a 12 month high of $194.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. As a group, sell-side analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a $0.315 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 annualized dividend and a dividend yield of 0.65%. Waste Connections’s payout ratio is currently 52.72%.

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.