Ninepoint Partners LP Increases Position in Waste Connections, Inc. (NYSE:WCN)

Ninepoint Partners LP lifted its position in Waste Connections, Inc. (NYSE:WCN) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,589 shares of the business services provider’s stock after purchasing an additional 1,600 shares during the period. Ninepoint Partners LP’s holdings in Waste Connections were worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blueshift Asset Management LLC purchased a new stake in shares of Waste Connections in the third quarter worth $552,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Waste Connections in the third quarter worth $2,503,000. Barclays PLC increased its stake in shares of Waste Connections by 34.3% in the third quarter. Barclays PLC now owns 303,040 shares of the business services provider’s stock worth $54,190,000 after purchasing an additional 77,466 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Waste Connections by 785.1% during the fourth quarter. GAMMA Investing LLC now owns 4,682 shares of the business services provider’s stock worth $803,000 after acquiring an additional 4,153 shares during the last quarter. Finally, TCW Group Inc. boosted its position in shares of Waste Connections by 6.7% during the third quarter. TCW Group Inc. now owns 722,426 shares of the business services provider’s stock worth $129,184,000 after acquiring an additional 45,215 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup upped 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. Truist Financial restated 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, February 14th. Oppenheimer upped their target price on shares of Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. StockNews.com lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus increased their price objective on shares of Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Four equities research 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 data from MarketBeat.com, Waste Connections currently has a consensus rating of “Moderate Buy” and an average target price of $202.43.

Waste Connections Trading Up 1.2 %

Shares of WCN opened at $185.49 on Friday. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $194.83. The company has a market cap of $47.87 billion, a P/E ratio of 77.61, a P/E/G ratio of 3.07 and a beta of 0.81. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The company’s fifty day simple moving average is $184.10 and its 200-day simple moving average is $182.51.

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 expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a yield of 0.68%. Waste Connections’s payout ratio is 52.72%.

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.