Hsbc Holdings PLC Has $45.62 Million Position in Waste Connections, Inc. (NYSE:WCN)

Hsbc Holdings PLC raised its position in Waste Connections, Inc. (NYSE:WCN) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,105 shares of the business services provider’s stock after purchasing an additional 18,364 shares during the quarter. Hsbc Holdings PLC owned 0.10% of Waste Connections worth $45,623,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in Waste Connections by 307.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock valued at $344,615,000 after purchasing an additional 1,453,733 shares during the period. Barclays PLC raised its stake in Waste Connections by 34.3% during the third quarter. Barclays PLC now owns 303,040 shares of the business services provider’s stock worth $54,190,000 after buying an additional 77,466 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Waste Connections by 11.4% in the third quarter. Geode Capital Management LLC now owns 190,590 shares of the business services provider’s stock valued at $36,207,000 after buying an additional 19,496 shares during the period. Virtu Financial LLC bought a new position in shares of Waste Connections in the 3rd quarter worth about $1,586,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Waste Connections in the 3rd quarter worth about $188,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WCN has been the subject of several research analyst reports. StockNews.com lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Scotiabank upped their price target on Waste Connections from $192.00 to $207.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 8th. Jefferies Financial Group reduced their price objective on Waste Connections from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Morgan Stanley boosted their price objective on Waste Connections from $214.00 to $219.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Truist Financial restated a “buy” rating and set a $210.00 price target (up previously from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Waste Connections has a consensus rating of “Moderate Buy” and a consensus target price of $204.43.

Waste Connections Trading Up 0.5 %

Waste Connections stock opened at $196.74 on Friday. 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, Inc. has a fifty-two week low of $160.34 and a fifty-two week high of $201.66. The stock has a market cap of $50.83 billion, a P/E ratio of 82.32, a PEG ratio of 3.07 and a beta of 0.67. The firm’s fifty day moving average price is $190.74 and its 200-day moving average price is $184.85.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.07 by $0.06. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. Equities research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th will be paid a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.64%. Waste Connections’s dividend payout ratio (DPR) 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.