Allworth Financial LP Purchases 68,584 Shares of Waste Connections, Inc. (NYSE:WCN)

Allworth Financial LP raised its position in Waste Connections, Inc. (NYSE:WCN) by 1,412.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,438 shares of the business services provider’s stock after buying an additional 68,584 shares during the period. Allworth Financial LP’s holdings in Waste Connections were worth $13,105,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC purchased a new stake in Waste Connections during the fourth quarter worth about $26,000. Stonebridge Financial Group LLC bought a new position in shares of Waste Connections during the 4th quarter valued at approximately $27,000. Global Trust Asset Management LLC bought a new position in shares of Waste Connections during the 3rd quarter valued at approximately $36,000. FSA Wealth Management LLC purchased a new stake in shares of Waste Connections during the 3rd quarter worth approximately $40,000. Finally, Continuum Advisory LLC raised its holdings in shares of Waste Connections by 58.0% in the 3rd quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock worth $42,000 after purchasing an additional 83 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

NYSE:WCN opened at $189.08 on Monday. Waste Connections, Inc. has a 52-week low of $160.34 and a 52-week high of $194.83. The stock has a fifty day moving average of $179.36 and a 200 day moving average of $181.67. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $48.80 billion, a price-to-earnings ratio of 51.94, a P/E/G ratio of 2.97 and a beta of 0.77.

Waste Connections (NYSE:WCN) last issued its quarterly 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 10.81% and a return on equity of 15.43%. On average, research analysts expect that Waste Connections, Inc. will post 4.83 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a $0.315 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a yield of 0.67%. Waste Connections’s dividend payout ratio is presently 34.62%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WCN. Oppenheimer increased their price objective on Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup increased their price target on Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. CIBC lowered their price objective on Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Truist Financial reiterated a “buy” rating and set a $210.00 target price (up previously from $200.00) on shares of Waste Connections in a research report on Friday. Finally, BMO Capital Markets lowered their price target on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Five investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

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.