Short Interest in Waste Connections, Inc. (NYSE:WCN) Grows By 20.2%

Waste Connections, Inc. (NYSE:WCN) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 2,620,000 shares, an increase of 20.2% from the January 31st total of 2,180,000 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,000,000 shares, the short-interest ratio is currently 2.6 days.

Waste Connections Price Performance

Shares of NYSE WCN traded up $2.08 during midday trading on Friday, hitting $187.84. The company had a trading volume of 843,689 shares, compared to its average volume of 874,890. The firm has a market capitalization of $48.48 billion, a price-to-earnings ratio of 78.48, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. The business has a 50-day simple moving average of $182.42 and a two-hundred day simple moving average of $182.51. Waste Connections has a twelve month low of $160.34 and a twelve month high of $194.83.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. Equities research analysts anticipate that Waste Connections will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be given a $0.315 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.26 annualized dividend and a dividend yield of 0.67%. Waste Connections’s dividend payout ratio is presently 52.72%.

Institutional Investors Weigh In On Waste Connections

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Waste Connections by 5.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,575 shares of the business services provider’s stock valued at $818,000 after acquiring an additional 239 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Waste Connections by 3.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 23,401 shares of the business services provider’s stock worth $4,185,000 after purchasing an additional 794 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Waste Connections by 22.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 87,110 shares of the business services provider’s stock worth $15,577,000 after buying an additional 16,035 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Waste Connections by 1.9% in the third quarter. Asset Management One Co. Ltd. now owns 105,039 shares of the business services provider’s stock valued at $18,783,000 after buying an additional 1,961 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Waste Connections by 12.3% in the third quarter. QRG Capital Management Inc. now owns 13,859 shares of the business services provider’s stock valued at $2,479,000 after buying an additional 1,519 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WCN shares. Scotiabank decreased their price objective on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating for the company in a report on Monday, January 27th. Truist Financial reiterated a “buy” rating and set a $210.00 price objective (up previously from $200.00) on shares of Waste Connections in a report on Friday, February 14th. Oppenheimer increased their price objective on Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Morgan Stanley increased 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, StockNews.com lowered Waste Connections from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $202.43.

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.