abrdn plc lifted its position in shares of Waste Connections, Inc. (NYSE:WCN) by 3,637.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,327,881 shares of the business services provider’s stock after acquiring an additional 1,292,348 shares during the quarter. abrdn plc’s holdings in Waste Connections were worth $158,602,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Carderock Capital Management Inc. increased its holdings in Waste Connections by 0.6% in the first quarter. Carderock Capital Management Inc. now owns 21,971 shares of the business services provider’s stock valued at $2,372,000 after purchasing an additional 121 shares during the last quarter. Parallel Advisors LLC grew its stake in Waste Connections by 30.0% in the second quarter. Parallel Advisors LLC now owns 710 shares of the business services provider’s stock valued at $85,000 after acquiring an additional 164 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Waste Connections by 0.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 19,090 shares of the business services provider’s stock valued at $2,061,000 after acquiring an additional 167 shares during the period. First Mercantile Trust Co. grew its stake in Waste Connections by 12.2% in the first quarter. First Mercantile Trust Co. now owns 1,550 shares of the business services provider’s stock valued at $167,000 after acquiring an additional 168 shares during the period. Finally, Trustcore Financial Services LLC grew its stake in Waste Connections by 239.4% in the second quarter. Trustcore Financial Services LLC now owns 241 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 170 shares during the period. Institutional investors own 79.99% of the company’s stock.
Shares of WCN stock traded up $0.16 on Wednesday, hitting $130.38. 19,872 shares of the stock were exchanged, compared to its average volume of 847,785. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $33.97 billion, a P/E ratio of 54.55, a price-to-earnings-growth ratio of 3.14 and a beta of 0.71. The business has a 50-day moving average of $126.37 and a 200 day moving average of $119.05. Waste Connections, Inc. has a fifty-two week low of $97.02 and a fifty-two week high of $133.48.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 18th were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, August 17th. This represents a $0.82 annualized dividend and a yield of 0.63%. Waste Connections’s dividend payout ratio (DPR) is presently 31.06%.
A number of research analysts have issued reports on the company. KeyCorp boosted their target price on Waste Connections from $115.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, July 21st. Royal Bank of Canada boosted their target price on Waste Connections from $130.00 to $134.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. Morgan Stanley boosted their target price on Waste Connections from $131.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, July 13th. Oppenheimer boosted their target price on Waste Connections from $126.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, July 16th. Finally, Raymond James upped their price objective on Waste Connections from $143.00 to $144.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 6th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $130.33.
Waste Connections Company Profile
Waste Connections, Inc engages in the provision of solid waste services. Its services include waste collection, transfer, disposal, treatment and recycling. It also provides non-hazardous exploration and production, waste treatment, recovery and disposal services. The company was founded by Ronald J.
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