Diametric Capital LP Has $294,000 Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Diametric Capital LP reduced its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 28.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,715 shares of the business services provider’s stock after selling 695 shares during the period. Diametric Capital LP’s holdings in Waste Connections were worth $294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Waste Connections in the 4th quarter valued at about $687,935,000. Principal Financial Group Inc. lifted its holdings in shares of Waste Connections by 307.1% in the third quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock valued at $344,615,000 after purchasing an additional 1,453,733 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Waste Connections during the fourth quarter valued at approximately $240,422,000. National Bank of Canada FI grew its holdings in Waste Connections by 35.3% during the third quarter. National Bank of Canada FI now owns 2,678,562 shares of the business services provider’s stock worth $478,777,000 after buying an additional 699,012 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in Waste Connections by 199.4% in the 3rd quarter. Two Sigma Advisers LP now owns 591,250 shares of the business services provider’s stock valued at $105,727,000 after buying an additional 393,763 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday, February 14th. Jefferies Financial Group reduced their price objective 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. Stifel Nicolaus lifted their target price on shares of Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Citigroup increased their price target on Waste Connections from $195.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Finally, Scotiabank reduced their price objective on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating for the company in a research note on Monday, January 27th. Four equities research 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, the company has an average rating of “Moderate Buy” and an average target price of $202.43.

Waste Connections Stock Performance

NYSE WCN opened at $196.50 on Wednesday. The firm has a market cap of $50.77 billion, a P/E ratio of 82.22, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. 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 company’s 50 day moving average is $187.82 and its 200-day moving average is $183.03. Waste Connections, Inc. has a 12-month low of $160.34 and a 12-month high of $197.74.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (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%. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.315 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.26 annualized dividend and a yield of 0.64%. Waste Connections’s dividend 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.