Short Interest in Waste Connections, Inc. (NYSE:WCN) Declines By 14.1%

Waste Connections, Inc. (NYSE:WCN) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 2,250,000 shares, a drop of 14.1% from the February 13th total of 2,620,000 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average trading volume of 1,050,000 shares, the days-to-cover ratio is currently 2.1 days.

Waste Connections Stock Up 1.7 %

WCN stock traded up $3.18 during trading on Wednesday, reaching $190.76. 943,545 shares of the company traded hands, compared to its average volume of 1,000,433. The business has a 50 day simple moving average of $184.73 and a 200 day simple moving average of $182.51. Waste Connections has a 12 month low of $160.34 and a 12 month high of $194.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $49.23 billion, a price-to-earnings ratio of 79.82, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81.

Waste Connections (NYSE:WCN) last released its quarterly 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 net margin of 6.92% and a return on equity of 15.54%. On average, equities research analysts anticipate that Waste Connections 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. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 annualized dividend and a dividend yield of 0.66%. Waste Connections’s dividend payout ratio is presently 52.72%.

Institutional Trading of Waste Connections

Institutional investors have recently made changes to their positions in the business. Manchester Capital Management LLC acquired a new stake in Waste Connections in the fourth quarter worth about $26,000. Private Trust Co. NA grew its position in Waste Connections by 153.3% during the 4th 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 acquired a new position in Waste Connections during the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Waste Connections in the fourth quarter worth $28,000. Finally, Smartleaf Asset Management LLC lifted 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 buying an additional 71 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WCN. Citigroup upped their price target on shares of Waste Connections from $195.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, January 13th. StockNews.com lowered Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Oppenheimer upped 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. Truist Financial reaffirmed 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. Finally, Scotiabank dropped their price objective on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $202.43.

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.