Waste Connections, Inc. (NYSE:WCN) Stake Increased by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC grew its holdings in Waste Connections, Inc. (NYSE:WCN) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,278 shares of the business services provider’s stock after purchasing an additional 56 shares during the period. Checchi Capital Advisers LLC’s holdings in Waste Connections were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WCN. Aster Capital Management DIFC Ltd purchased a new stake in shares of Waste Connections during the fourth quarter worth $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock worth $33,000 after acquiring an additional 71 shares in the last quarter. Oarsman Capital Inc. raised its holdings in shares of Waste Connections by 41.4% during the fourth quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider’s stock worth $38,000 after acquiring an additional 65 shares in the last quarter. Global Financial Private Client LLC raised its holdings in shares of Waste Connections by 890.0% during the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider’s stock worth $39,000 after acquiring an additional 178 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings in shares of Waste Connections by 232.3% during the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider’s stock worth $41,000 after acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WCN shares. National Bank Financial upgraded Waste Connections to a “strong-buy” rating in a report on Monday, May 26th. Truist Financial set a $220.00 price objective on Waste Connections in a report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on Waste Connections from $197.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Seaport Res Ptn upgraded Waste Connections to a “strong-buy” rating in a report on Tuesday, May 6th. Finally, BMO Capital Markets raised their target price on Waste Connections from $214.00 to $216.00 and gave the company an “outperform” rating in a report on Friday, April 25th. 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. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $212.29.

Waste Connections Stock Performance

WCN opened at $179.85 on Friday. The firm has a market capitalization of $46.47 billion, a P/E ratio of 74.01, a price-to-earnings-growth ratio of 3.14 and a beta of 0.60. The stock’s 50 day moving average price is $191.12 and its two-hundred day moving average price is $187.46. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.06. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a return on equity of 15.74% and a net margin of 6.93%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Wednesday, May 7th. Waste Connections’s dividend payout ratio (DPR) is currently 51.85%.

Waste Connections Company 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.