Quantbot Technologies LP Has $7.61 Million Stock Position in Waste Connections, Inc. (NYSE:WCN)

Quantbot Technologies LP cut its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 41.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,322 shares of the business services provider’s stock after selling 31,669 shares during the period. Quantbot Technologies LP’s holdings in Waste Connections were worth $7,605,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WCN. Principal Financial Group Inc. raised its holdings in Waste Connections by 307.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock valued at $344,615,000 after buying an additional 1,453,733 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Waste Connections by 0.5% during the third quarter. Pathstone Holdings LLC now owns 45,420 shares of the business services provider’s stock worth $8,122,000 after purchasing an additional 213 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Waste Connections by 0.6% in the third quarter. PNC Financial Services Group Inc. now owns 78,346 shares of the business services provider’s stock worth $14,010,000 after purchasing an additional 482 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Waste Connections by 1.7% in the third quarter. Segall Bryant & Hamill LLC now owns 59,613 shares of the business services provider’s stock worth $10,660,000 after purchasing an additional 1,006 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Waste Connections by 17.5% during the 3rd quarter. Jennison Associates LLC now owns 14,184 shares of the business services provider’s stock worth $2,536,000 after purchasing an additional 2,108 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Down 0.3 %

WCN stock opened at $189.35 on Friday. The stock’s 50 day simple moving average is $185.60 and its 200 day simple moving average is $182.64. The company has a market cap of $48.86 billion, a P/E ratio of 79.22, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65. Waste Connections, Inc. has a fifty-two week low of $160.34 and a fifty-two 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 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, research analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal 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 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 was Thursday, February 27th. Waste Connections’s dividend payout ratio is currently 52.72%.

Wall Street Analyst Weigh In

A number of research firms have commented on WCN. Truist Financial reiterated a “buy” rating and issued a $210.00 price target (up previously from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. CIBC reduced their target price on Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Oppenheimer raised their price target on shares of Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Citigroup upped their price objective on shares of Waste Connections from $195.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, Jefferies Financial Group lowered their target price 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. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.43.

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.