Snowden Capital Advisors LLC Sells 1,269 Shares of Waste Connections, Inc. (NYSE:WCN)

Snowden Capital Advisors LLC cut its holdings in Waste Connections, Inc. (NYSE:WCN) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,496 shares of the business services provider’s stock after selling 1,269 shares during the period. Snowden Capital Advisors LLC’s holdings in Waste Connections were worth $1,457,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Skye Global Management LP raised its stake in shares of Waste Connections by 7.3% during the fourth quarter. Skye Global Management LP now owns 648,000 shares of the business services provider’s stock valued at $111,184,000 after acquiring an additional 44,000 shares during the last quarter. Prana Capital Management LP raised its stake 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 valued at $8,556,000 after acquiring an additional 4,663 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of 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 valued at $1,304,000 after acquiring an additional 676 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of Waste Connections during the fourth quarter valued at about $3,243,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Waste Connections by 17.0% during 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 during the last quarter. 86.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WCN has been the subject of several recent analyst reports. Truist Financial set a $220.00 price objective on shares of Waste Connections in a research note on Friday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $221.00 price objective on shares of Waste Connections in a research note on Friday, April 25th. Morgan Stanley upped their price objective on shares of Waste Connections from $214.00 to $219.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. William Blair initiated coverage on shares of Waste Connections in a research note on Thursday, April 3rd. They set an “outperform” rating for the company. Finally, BMO Capital Markets upped their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Four 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 company’s stock. According to data from MarketBeat, Waste Connections has an average rating of “Moderate Buy” and a consensus price target of $208.21.

Waste Connections Price Performance

Shares of NYSE WCN opened at $191.94 on Monday. Waste Connections, Inc. has a fifty-two week low of $160.34 and a fifty-two week high of $201.66. The company has a 50 day simple moving average of $192.60 and a two-hundred day simple moving average of $186.44. The company has a market capitalization of $49.59 billion, a price-to-earnings ratio of 80.31, a P/E/G ratio of 3.07 and a beta of 0.66. 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 posted 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 company 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 firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $1.04 EPS. Analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

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

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.