Ninepoint Partners LP Purchases 1,600 Shares of Waste Connections, Inc. (NYSE:WCN)

Ninepoint Partners LP increased its position in Waste Connections, Inc. (NYSE:WCN) by 16.0% during the 4th quarter, Holdings Channel reports. The firm owned 11,589 shares of the business services provider’s stock after acquiring an additional 1,600 shares during the quarter. Ninepoint Partners LP’s holdings in Waste Connections were worth $1,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Choate Investment Advisors boosted its position in Waste Connections by 18.6% during the 4th quarter. Choate Investment Advisors now owns 97,862 shares of the business services provider’s stock valued at $16,801,000 after acquiring an additional 15,338 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Waste Connections by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,471 shares of the business services provider’s stock valued at $2,483,000 after acquiring an additional 411 shares in the last quarter. Erste Asset Management GmbH boosted its position in Waste Connections by 0.9% during the 4th quarter. Erste Asset Management GmbH now owns 11,354 shares of the business services provider’s stock valued at $1,949,000 after acquiring an additional 96 shares in the last quarter. Achmea Investment Management B.V. boosted its position in Waste Connections by 7.8% during the 4th quarter. Achmea Investment Management B.V. now owns 14,730 shares of the business services provider’s stock valued at $2,528,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Waste Connections by 1.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,000,425 shares of the business services provider’s stock valued at $342,739,000 after acquiring an additional 36,343 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

NYSE WCN opened at $185.49 on Friday. The stock has a 50-day simple moving average of $184.10 and a two-hundred day simple moving average of $182.51. The firm has a market capitalization of $47.87 billion, a P/E ratio of 77.61, a PEG ratio of 3.07 and a beta of 0.81. Waste Connections, Inc. has a fifty-two week low of $160.34 and a fifty-two week high of $194.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. On average, equities analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WCN. StockNews.com cut Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Stifel Nicolaus increased their price objective on Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. 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. CIBC decreased their price objective on Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Scotiabank decreased their price objective on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating for the company in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.43.

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.