Bridgefront Capital LLC Acquires Shares of 3,060 Waste Connections, Inc. (NYSE:WCN)

Bridgefront Capital LLC bought a new position in shares of Waste Connections, Inc. (NYSE:WCN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,060 shares of the business services provider’s stock, valued at approximately $525,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WCN. Manchester Capital Management LLC bought a new stake in Waste Connections during the 4th quarter worth approximately $26,000. Private Trust Co. NA boosted its position in shares of Waste Connections by 153.3% during the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock valued at $26,000 after buying an additional 92 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in Waste Connections during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new stake in Waste Connections in the 4th quarter valued at $28,000. Finally, Smartleaf Asset Management LLC raised its position in Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock valued at $33,000 after buying an additional 71 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Performance

Shares of WCN stock opened at $197.99 on Tuesday. The firm’s 50 day moving average is $191.90 and its 200 day moving average is $185.61. The stock has a market capitalization of $51.15 billion, a P/E ratio of 82.84, a PEG ratio of 3.07 and a beta of 0.66. Waste Connections, Inc. has a 12 month low of $160.34 and a 12 month high of $201.66. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (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 firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, May 7th. Waste Connections’s dividend payout ratio is presently 51.85%.

Wall Street Analysts Forecast Growth

WCN has been the subject of several recent analyst reports. William Blair initiated coverage on shares of Waste Connections in a research note on Thursday, April 3rd. They issued an “outperform” rating for the company. Truist Financial set a $220.00 price objective on shares of Waste Connections in a research report on Friday, April 25th. Morgan Stanley boosted their target price on Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Citigroup upped their target price on Waste Connections from $209.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, April 29th. Finally, Jefferies Financial Group dropped their price target on Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.21.

Waste Connections 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.