Waste Connections, Inc. (NYSE:WCN) Shares Purchased by Skye Global Management LP

Skye Global Management LP grew its stake in Waste Connections, Inc. (NYSE:WCN) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 648,000 shares of the business services provider’s stock after acquiring an additional 44,000 shares during the quarter. Waste Connections accounts for 2.3% of Skye Global Management LP’s holdings, making the stock its 7th biggest position. Skye Global Management LP’s holdings in Waste Connections were worth $111,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Prana Capital Management LP grew its holdings in shares of Waste Connections by 10.3% during the fourth quarter. Prana Capital Management LP now owns 49,867 shares of the business services provider’s stock worth $8,556,000 after buying an additional 4,663 shares in the last quarter. Quantinno Capital Management LP boosted its position in Waste Connections by 9.8% during the fourth quarter. Quantinno Capital Management LP now owns 7,598 shares of the business services provider’s stock worth $1,304,000 after purchasing an additional 676 shares during the period. Nomura Holdings Inc. acquired a new stake in Waste Connections during the fourth quarter worth approximately $3,243,000. Nuveen Asset Management LLC grew its stake in shares of Waste Connections by 17.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,789,074 shares of the business services provider’s stock valued at $306,969,000 after acquiring an additional 260,066 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of Waste Connections by 0.6% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 1,127,884 shares of the business services provider’s stock valued at $193,522,000 after buying an additional 6,620 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Trading Up 2.4%

Shares of WCN stock opened at $190.78 on Friday. Waste Connections, Inc. has a 12-month low of $160.34 and a 12-month high of $201.66. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $192.44 and a two-hundred day moving average price of $186.23. The firm has a market cap of $49.29 billion, a P/E ratio of 79.82, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.06. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Equities analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, May 7th. Waste Connections’s payout ratio is 51.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. William Blair started coverage on Waste Connections in a research report on Thursday, April 3rd. They issued an “outperform” rating on the stock. Jefferies Financial Group decreased 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. Citigroup lifted their price target on Waste Connections from $209.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 29th. Scotiabank raised their target price on Waste Connections from $192.00 to $207.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $221.00 price objective on shares of Waste Connections 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 two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.21.

About Waste Connections

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.