IFP Advisors Inc Reduces Position in Waste Connections, Inc. (NYSE:WCN)

IFP Advisors Inc cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 19.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 479 shares of the business services provider’s stock after selling 116 shares during the quarter. IFP Advisors Inc’s holdings in Waste Connections were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Fifth Third Bancorp lifted its holdings in Waste Connections by 8.8% during the fourth quarter. Fifth Third Bancorp now owns 705 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 57 shares during the last quarter. Jennison Associates LLC increased its position in shares of Waste Connections by 0.4% during the fourth quarter. Jennison Associates LLC now owns 14,247 shares of the business services provider’s stock valued at $2,445,000 after buying an additional 63 shares during the period. Continuum Advisory LLC increased its position in shares of Waste Connections by 58.0% during 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. Kingsview Wealth Management LLC increased its position in shares of Waste Connections by 6.3% during the third quarter. Kingsview Wealth Management LLC now owns 1,515 shares of the business services provider’s stock valued at $271,000 after buying an additional 90 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Waste Connections by 0.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,220 shares of the business services provider’s stock valued at $5,014,000 after buying an additional 92 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Down 0.3 %

Shares of NYSE WCN opened at $190.12 on Thursday. Waste Connections, Inc. has a one year low of $160.34 and a one year high of $194.83. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The firm’s 50 day simple moving average is $182.14 and its two-hundred day simple moving average is $182.49. The stock has a market capitalization of $49.06 billion, a P/E ratio of 79.55, a PEG ratio of 3.07 and a beta of 0.81.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results 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 6.92% and a return on equity of 15.54%. As a group, analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, February 27th. Waste Connections’s payout ratio is currently 52.72%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WCN shares. Morgan Stanley upped their price target on Waste Connections from $214.00 to $219.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. CIBC decreased their price target on Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. StockNews.com cut Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Truist Financial reiterated a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. Finally, Oppenheimer upped their price target on Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Four 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.43.

Waste Connections 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.