7,669 Shares in Waste Connections, Inc. (NYSE:WCN) Purchased by Allstate Corp

Allstate Corp acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,669 shares of the business services provider’s stock, valued at approximately $1,316,000.

Several other hedge funds have also recently bought and sold shares of WCN. Manchester Capital Management LLC bought a new stake in shares of Waste Connections during the 4th quarter worth approximately $26,000. Private Trust Co. NA lifted its stake in Waste Connections by 153.3% during the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after purchasing an additional 92 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Waste Connections in the 4th quarter valued at $27,000. Smartleaf Asset Management LLC increased its stake in shares of 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 purchasing an additional 71 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new position in shares of Waste Connections during the 4th quarter worth $39,000. 86.09% of the stock is owned by institutional investors.

Waste Connections Price Performance

Shares of WCN opened at $192.80 on Monday. The business has a 50-day moving average of $187.14 and a 200-day moving average of $182.89. Waste Connections, Inc. has a 1 year low of $160.34 and a 1 year high of $194.83. The company has a market capitalization of $49.81 billion, a price-to-earnings ratio of 80.67, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. 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 issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. As a group, equities research analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a yield of 0.65%. Waste Connections’s dividend payout ratio (DPR) is currently 52.72%.

Analysts Set New Price Targets

A number of research firms have issued reports on WCN. Truist Financial reiterated a “buy” rating and issued a $210.00 target price (up previously from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. Morgan Stanley upped their price objective on shares of Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Scotiabank cut their target price on shares of Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a research report on Monday, January 27th. StockNews.com downgraded shares of Waste Connections from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Citigroup raised their price objective on Waste Connections from $195.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and an average target price of $202.43.

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.