Bearing Point Capital LLC Purchases Shares of 1,275 Waste Connections, Inc. (NYSE:WCN)

Bearing Point Capital LLC acquired a new stake in Waste Connections, Inc. (NYSE:WCN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,275 shares of the business services provider’s stock, valued at approximately $249,000.

Several other institutional investors have also recently modified their holdings of WCN. Bank of Montreal Can raised its position in Waste Connections by 4.3% during the 4th quarter. Bank of Montreal Can now owns 8,644,222 shares of the business services provider’s stock worth $1,481,041,000 after buying an additional 356,798 shares during the last quarter. FIL Ltd increased its stake in shares of Waste Connections by 46.2% in the fourth quarter. FIL Ltd now owns 7,177,724 shares of the business services provider’s stock worth $1,231,368,000 after acquiring an additional 2,269,652 shares during the period. WCM Investment Management LLC raised its holdings in shares of Waste Connections by 0.3% during the first quarter. WCM Investment Management LLC now owns 6,383,780 shares of the business services provider’s stock worth $1,230,984,000 after purchasing an additional 18,400 shares during the last quarter. Capital International Investors lifted its position in Waste Connections by 17.8% during the fourth quarter. Capital International Investors now owns 5,949,152 shares of the business services provider’s stock valued at $1,020,672,000 after purchasing an additional 899,058 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Waste Connections by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,736,179 shares of the business services provider’s stock valued at $984,214,000 after purchasing an additional 150,683 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

NYSE:WCN opened at $186.99 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.70 and a current ratio of 0.67. The stock has a market capitalization of $48.32 billion, a PE ratio of 75.40, a P/E/G ratio of 3.29 and a beta of 0.60. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66. The company has a fifty day moving average of $188.06 and a two-hundred day moving average of $188.65.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.24 earnings per share. As a group, research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th will be given a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.26 annualized dividend and a dividend yield of 0.67%. Waste Connections’s dividend payout ratio (DPR) is presently 50.81%.

Analyst Ratings Changes

A number of research firms have weighed in on WCN. Truist Financial set a $220.00 price objective on Waste Connections in a research note on Friday, April 25th. William Blair began coverage on Waste Connections in a report on Thursday, April 3rd. They set an “outperform” rating on the stock. Melius Research raised Waste Connections to a “strong-buy” rating and set a $213.00 price target for the company in a report on Monday, June 9th. Royal Bank Of Canada lowered their price objective on Waste Connections from $221.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Raymond James Financial dropped their price objective on shares of Waste Connections from $224.00 to $211.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Waste Connections has a consensus rating of “Buy” and a consensus target price of $215.62.

Waste Connections Company 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.