Quaero Capital S.A. Has $1.59 Million Stake in Waste Connections, Inc. (NYSE:WCN)

Quaero Capital S.A. trimmed its position in Waste Connections, Inc. (NYSE:WCN) by 11.8% during the first quarter, HoldingsChannel.com reports. The firm owned 8,154 shares of the business services provider’s stock after selling 1,096 shares during the quarter. Waste Connections accounts for approximately 2.3% of Quaero Capital S.A.’s investment portfolio, making the stock its 14th biggest holding. Quaero Capital S.A.’s holdings in Waste Connections were worth $1,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Waste Connections by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 29,293,002 shares of the business services provider’s stock valued at $5,025,836,000 after acquiring an additional 174,121 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Waste Connections by 4.3% in the fourth quarter. Bank of Montreal Can now owns 8,644,222 shares of the business services provider’s stock valued at $1,481,041,000 after purchasing an additional 356,798 shares during the last quarter. FIL Ltd lifted its position in shares of Waste Connections by 46.2% in 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 in the last quarter. Capital International Investors boosted its holdings in Waste Connections by 17.8% during the fourth quarter. Capital International Investors now owns 5,949,152 shares of the business services provider’s stock worth $1,020,672,000 after purchasing an additional 899,058 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Waste Connections by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,736,179 shares of the business services provider’s stock valued at $984,214,000 after buying an additional 150,683 shares during the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Trading Up 1.0%

Shares of Waste Connections stock opened at $187.50 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.70. The business has a fifty day simple moving average of $192.73 and a two-hundred day simple moving average of $187.33. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66. The company has a market capitalization of $48.45 billion, a price-to-earnings ratio of 77.16, a P/E/G ratio of 3.22 and a beta of 0.62.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.06. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 earnings per share. Research analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were issued a $0.315 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $1.26 annualized dividend and a yield of 0.67%. Waste Connections’s dividend payout ratio is currently 51.85%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WCN. Melius assumed coverage on shares of Waste Connections in a research note on Monday, June 9th. They set a “buy” rating for the company. BMO Capital Markets upped their target price on Waste Connections from $214.00 to $216.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. JPMorgan Chase & Co. raised their price target on Waste Connections from $197.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. Truist Financial set a $220.00 price target on Waste Connections in a research report on Friday, April 25th. Finally, Citigroup increased their price objective on Waste Connections from $209.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $212.29.

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.