Waste Connections (NYSE:WCN) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Waste Connections (NYSE:WCN) from a buy rating to a hold rating in a research note issued to investors on Friday.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group dropped 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. CIBC dropped their price target on Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Scotiabank dropped their price target on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a report on Monday, January 27th. Truist Financial reiterated a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $200.00.

Waste Connections Trading Up 0.1 %

Shares of Waste Connections stock opened at $189.08 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. Waste Connections has a 52 week low of $160.34 and a 52 week high of $194.83. The stock has a 50 day moving average price of $179.39 and a two-hundred day moving average price of $181.54. The stock has a market capitalization of $48.80 billion, a PE ratio of 51.94, a price-to-earnings-growth ratio of 2.97 and a beta of 0.77.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. As a group, equities analysts anticipate that Waste Connections will post 4.83 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, February 27th. Waste Connections’s payout ratio is 34.62%.

Hedge Funds Weigh In On Waste Connections

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WCN. Norges Bank purchased a new position in Waste Connections during the fourth quarter worth about $687,935,000. FIL Ltd lifted its stake in Waste Connections by 46.2% during the fourth quarter. FIL Ltd now owns 7,177,724 shares of the business services provider’s stock worth $1,231,368,000 after purchasing an additional 2,269,652 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Waste Connections by 307.1% during the third quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock worth $344,615,000 after purchasing an additional 1,453,733 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Waste Connections during the fourth quarter worth about $240,422,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Waste Connections by 432.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,259,312 shares of the business services provider’s stock worth $225,078,000 after purchasing an additional 1,022,851 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

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.