Bank of Montreal Can Raises Position in Waste Connections, Inc. (NYSE:WCN)

Bank of Montreal Can lifted its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,644,222 shares of the business services provider’s stock after acquiring an additional 356,798 shares during the quarter. Waste Connections accounts for about 0.7% of Bank of Montreal Can’s portfolio, making the stock its 25th largest position. Bank of Montreal Can owned 3.35% of Waste Connections worth $1,481,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Manchester Capital Management LLC purchased a new position in Waste Connections in the fourth quarter worth approximately $26,000. Private Trust Co. NA raised its holdings in shares of Waste Connections by 153.3% in the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 92 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Waste Connections in the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Waste Connections during the 4th quarter worth $28,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock worth $33,000 after purchasing an additional 71 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WCN shares. Truist Financial reissued a “buy” rating and set a $210.00 target price (up previously from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. William Blair initiated coverage on shares of Waste Connections in a research report on Thursday. They issued an “outperform” rating on the stock. Stifel Nicolaus lifted their price target on shares of Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Oppenheimer upped their price objective on shares of Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Citigroup lifted their target price on Waste Connections from $199.00 to $218.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.00.

Waste Connections Stock Down 5.9 %

Shares of NYSE:WCN opened at $188.07 on Monday. Waste Connections, Inc. has a fifty-two week low of $160.34 and a fifty-two week high of $201.66. 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 firm’s 50-day simple moving average is $188.80 and its 200-day simple moving average is $183.31. The company has a market cap of $48.59 billion, a price-to-earnings ratio of 78.69, a PEG ratio of 3.07 and a beta of 0.67.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data 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 6.92% and a return on equity of 15.54%. As a group, equities research analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.315 dividend. The ex-dividend date 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 presently 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.