Nomura Holdings Inc. Makes New $3.24 Million Investment in Waste Connections, Inc. (NYSE:WCN)

Nomura Holdings Inc. purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN) in the fourth quarter, HoldingsChannel reports. The firm purchased 18,900 shares of the business services provider’s stock, valued at approximately $3,243,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA boosted its position in shares of Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after purchasing an additional 92 shares during the period. Manchester Capital Management LLC acquired a new position in Waste Connections during the fourth quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in Waste Connections during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Waste Connections during the fourth quarter worth $28,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Waste Connections by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Trading Up 2.4%

NYSE WCN opened at $190.78 on Friday. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $201.66. The firm has a 50 day moving average of $192.44 and a two-hundred day moving average of $186.23. 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 stock has a market capitalization of $49.29 billion, a PE ratio of 79.82, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.06. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. As a group, research analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.26 annualized dividend and a dividend yield of 0.66%. Waste Connections’s dividend payout ratio is currently 51.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. William Blair assumed coverage on Waste Connections in a report on Thursday, April 3rd. They issued an “outperform” rating on the stock. Seaport Res Ptn upgraded shares of Waste Connections to a “strong-buy” rating in a research note on Tuesday, May 6th. Jefferies Financial Group reduced their price target on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $221.00 price objective on shares of Waste Connections in a report on Friday, April 25th. Finally, Truist Financial set a $220.00 target price on shares of Waste Connections in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $208.21.

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.