Kimelman & Baird LLC Reduces Holdings in Waste Connections, Inc. (NYSE:WCN)

Kimelman & Baird LLC decreased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 187,744 shares of the business services provider’s stock after selling 3,332 shares during the period. Waste Connections makes up about 2.6% of Kimelman & Baird LLC’s investment portfolio, making the stock its 17th biggest position. Kimelman & Baird LLC’s holdings in Waste Connections were worth $32,213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WCN. Manchester Capital Management LLC purchased a new stake in Waste Connections during the 4th quarter worth $26,000. Private Trust Co. NA increased its position in shares of Waste Connections by 153.3% in the 4th 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 bought a new stake in shares of Waste Connections in the 4th quarter worth about $27,000. Smartleaf Asset Management LLC increased its position 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 worth $33,000 after purchasing an additional 71 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of Waste Connections in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

NYSE WCN opened at $185.49 on Monday. Waste Connections, Inc. has a 52 week low of $160.34 and a 52 week high of $194.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The stock has a market cap of $47.87 billion, a price-to-earnings ratio of 77.61, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. The company has a 50-day moving average price of $184.10 and a two-hundred day moving average price of $182.49.

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

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, February 27th. Waste Connections’s dividend payout ratio (DPR) is presently 52.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. CIBC dropped their target price 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. Stifel Nicolaus boosted their target price on shares of Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Citigroup boosted their target price 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. Morgan Stanley lifted their price target on shares of Waste Connections from $214.00 to $219.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up previously from $200.00) on shares of Waste Connections in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.