Bornite Capital Management LP Boosts Stock Position in Waste Connections, Inc. (NYSE:WCN)

Bornite Capital Management LP grew its holdings in Waste Connections, Inc. (NYSE:WCN) by 111.7% in the 4th quarter, Holdings Channel reports. The fund owned 211,700 shares of the business services provider’s stock after purchasing an additional 111,700 shares during the quarter. Waste Connections accounts for 4.9% of Bornite Capital Management LP’s portfolio, making the stock its 4th biggest position. Bornite Capital Management LP’s holdings in Waste Connections were worth $36,323,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Manchester Capital Management LLC acquired a new position in Waste Connections in the 4th quarter worth $26,000. Private Trust Co. NA boosted its position in shares of 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 buying an additional 92 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Waste Connections during the fourth quarter worth about $27,000. Smartleaf Asset Management LLC grew its holdings in shares of Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock worth $33,000 after buying an additional 71 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Waste Connections in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WCN. Citigroup lifted their target price on Waste Connections from $199.00 to $218.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com downgraded Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Stifel Nicolaus raised their target price on shares of Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Scotiabank reduced their price target 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. Finally, CIBC lowered their price objective 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 investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.00.

Waste Connections Price Performance

Shares of WCN opened at $199.84 on Friday. The business has a 50-day simple moving average of $188.60 and a two-hundred day simple moving average of $183.24. Waste Connections, Inc. has a 12-month low of $160.34 and a 12-month high of $201.66. The stock has a market cap of $51.63 billion, a PE ratio of 83.61, a PEG ratio of 3.07 and a beta of 0.67. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. Analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.315 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.63%. Waste Connections’s dividend payout ratio (DPR) is presently 52.72%.

Waste Connections 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.