Squarepoint Ops LLC Trims Position in Waste Connections, Inc. (NYSE:WCN)

Squarepoint Ops LLC lessened its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 33.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,482 shares of the business services provider’s stock after selling 15,576 shares during the quarter. Squarepoint Ops LLC’s holdings in Waste Connections were worth $5,230,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new position in Waste Connections during the 4th quarter valued at about $26,000. Private Trust Co. NA grew its holdings in Waste Connections by 153.3% during the 4th 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 in the last quarter. Stonebridge Financial Group LLC purchased a new position in Waste Connections during the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd purchased a new position in Waste Connections during the 4th quarter valued at about $28,000. Finally, Smartleaf Asset Management LLC grew its holdings in Waste Connections by 59.7% during 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 in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

NYSE:WCN opened at $196.67 on Monday. The business has a 50 day moving average of $193.58 and a 200 day moving average of $187.01. The company has a market capitalization of $50.81 billion, a price-to-earnings ratio of 82.29, a PEG ratio of 3.07 and a beta of 0.66. Waste Connections, Inc. has a 1-year low of $160.34 and a 1-year high of $201.66. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65.

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

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were paid a $0.315 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.64%. Waste Connections’s dividend payout ratio (DPR) is currently 51.85%.

Analyst Ratings Changes

WCN has been the subject of a number of recent analyst reports. Wall Street Zen lowered Waste Connections from a “buy” rating to a “hold” rating in a report on Friday, February 14th. William Blair started coverage on Waste Connections in a research report on Thursday, April 3rd. They set an “outperform” rating for the company. JPMorgan Chase & Co. lifted their price target on Waste Connections from $197.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday. Scotiabank lifted their price target on Waste Connections from $192.00 to $207.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 8th. Finally, Citigroup lifted their price target on Waste Connections from $209.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $212.23.

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.