Quantbot Technologies LP Sells 31,669 Shares of Waste Connections, Inc. (NYSE:WCN)

Quantbot Technologies LP lessened its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 41.7% during the 4th quarter, according to its most recent disclosure 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 filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Fifth Third Bancorp increased its stake in shares of Waste Connections by 8.8% during the 4th quarter. Fifth Third Bancorp now owns 705 shares of the business services provider’s stock worth $121,000 after purchasing an additional 57 shares during the last quarter. Jennison Associates LLC increased its position in Waste Connections by 0.4% during the fourth quarter. Jennison Associates LLC now owns 14,247 shares of the business services provider’s stock worth $2,445,000 after buying an additional 63 shares during the last quarter. Smartleaf Asset Management LLC increased its position in 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 last quarter. Continuum Advisory LLC raised its stake in Waste Connections by 58.0% in the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after buying an additional 83 shares during the period. Finally, Inspire Advisors LLC lifted its position in shares of Waste Connections by 2.3% in the fourth quarter. Inspire Advisors LLC now owns 3,943 shares of the business services provider’s stock valued at $676,000 after buying an additional 87 shares during the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Jefferies Financial Group decreased their target price on Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Oppenheimer increased their price objective on shares of Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. CIBC decreased their price target on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Scotiabank cut their price objective on shares of Waste Connections from $196.00 to $192.00 and set a “sector perform” rating for the company in a research report on Monday, January 27th. Finally, Truist Financial restated a “buy” rating and set a $210.00 price objective (up previously from $200.00) on shares of Waste Connections in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and a consensus price target of $202.43.

Waste Connections Trading Down 0.3 %

Shares of Waste Connections stock opened at $189.35 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. Waste Connections, Inc. has a 12-month low of $160.34 and a 12-month high of $194.83. The company has a market capitalization of $48.86 billion, a price-to-earnings ratio of 79.22, a PEG ratio of 3.07 and a beta of 0.81. The firm’s 50-day moving average price is $185.60 and its two-hundred day moving average price is $182.64.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts forecast 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. Stockholders of record on Thursday, February 27th were issued a dividend of $0.315 per share. 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 (DPR) 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.