Corient Private Wealth LLC Sells 7,738 Shares of Waste Connections, Inc. (NYSE:WCN)

Corient Private Wealth LLC cut its stake in Waste Connections, Inc. (NYSE:WCN) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,822 shares of the business services provider’s stock after selling 7,738 shares during the period. Corient Private Wealth LLC’s holdings in Waste Connections were worth $13,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC bought a new position in shares of Waste Connections in the fourth quarter worth about $26,000. Private Trust Co. NA raised its stake in shares of Waste Connections by 153.3% in the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after acquiring an additional 92 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Waste Connections in the fourth quarter worth about $27,000. Smartleaf Asset Management LLC raised its stake in shares of Waste Connections by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Finally, Sierra Ocean LLC bought a new position in shares of Waste Connections in the fourth quarter worth about $39,000. 86.09% of the stock is owned by institutional investors.

Waste Connections Stock Up 1.7 %

Shares of NYSE WCN opened at $190.76 on Thursday. The stock has a market cap of $49.23 billion, a P/E ratio of 79.82, a P/E/G ratio of 3.07 and a beta of 0.81. The firm has a 50 day moving average price of $185.02 and a 200 day moving average price of $182.57. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65. Waste Connections, Inc. has a 52-week low of $160.34 and a 52-week high of $194.83.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data 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 net margin of 6.92% and a return on equity of 15.54%. Analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, February 27th. Waste Connections’s payout ratio is currently 52.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WCN. Jefferies Financial Group dropped their target price on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Truist Financial reiterated a “buy” rating and set a $210.00 price target (up previously from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. Citigroup lifted their price target on shares of Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Oppenheimer lifted their price target on shares of Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, CIBC lowered their price target on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Connections currently has an average rating of “Moderate Buy” and a consensus 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.