MQS Management LLC Sells 5,612 Shares of Waste Connections, Inc. (NYSE:WCN)

MQS Management LLC trimmed its position in shares of Waste Connections, Inc. (NYSE:WCN) by 82.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,184 shares of the business services provider’s stock after selling 5,612 shares during the period. Waste Connections comprises 5.8% of MQS Management LLC’s holdings, making the stock its 11th biggest holding. MQS Management LLC’s holdings in Waste Connections were worth $203,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Versor Investments LP increased its position in shares of Waste Connections by 75.1% during the third quarter. Versor Investments LP now owns 8,221 shares of the business services provider’s stock worth $1,470,000 after acquiring an additional 3,527 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Waste Connections during the third quarter worth approximately $552,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Waste Connections during the third quarter worth approximately $2,503,000. Barclays PLC increased its position in shares of Waste Connections by 34.3% during the third quarter. Barclays PLC now owns 303,040 shares of the business services provider’s stock worth $54,190,000 after acquiring an additional 77,466 shares during the period. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of Waste Connections by 65.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 3,034 shares of the business services provider’s stock worth $543,000 after acquiring an additional 1,202 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Price Performance

Shares of WCN opened at $188.35 on Monday. The company has a market cap of $48.61 billion, a price-to-earnings ratio of 78.81, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $194.83. 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 has a 50 day moving average of $182.76 and a two-hundred day moving average of $182.54.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate 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 predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.315 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.26 annualized dividend and a dividend yield of 0.67%. Waste Connections’s payout ratio is currently 52.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup raised their target price on shares of Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Stifel Nicolaus raised 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. CIBC reduced their target price on shares of 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 lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Truist Financial reiterated a “buy” rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and a consensus price target of $202.43.

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.