Waste Connections, Inc. (NYSE:WCN) Shares Bought by Alberta Investment Management Corp

Alberta Investment Management Corp boosted its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 0.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 400,668 shares of the business services provider’s stock after acquiring an additional 2,500 shares during the period. Alberta Investment Management Corp owned about 0.16% of Waste Connections worth $68,700,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WCN. 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. Global Trust Asset Management LLC acquired a new stake in shares of Waste Connections in the third quarter valued at about $36,000. Sierra Ocean LLC acquired a new stake in shares of Waste Connections in the fourth quarter valued at about $39,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Waste Connections in the third quarter valued at about $40,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Down 0.7 %

WCN stock opened at $187.63 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $194.83. The company’s 50 day moving average is $179.46 and its two-hundred day moving average is $181.83. The stock has a market cap of $48.42 billion, a P/E ratio of 78.51, a PEG ratio of 3.08 and a beta of 0.77.

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 return on equity of 15.54% and a net margin of 6.92%. Research analysts expect that Waste Connections, Inc. will post 5.3 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. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.315 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a yield of 0.67%. Waste Connections’s payout ratio is currently 52.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WCN shares. Jefferies Financial Group reduced their target price on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Oppenheimer increased their target price on shares of Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley increased their target price on shares of Waste Connections from $214.00 to $219.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Royal Bank of Canada increased their target price on shares of Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Truist Financial reiterated a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

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.