Norges Bank Purchases Shares of 4,011,098 Waste Connections, Inc. (NYSE:WCN)

Norges Bank acquired a new position in Waste Connections, Inc. (NYSE:WCN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,011,098 shares of the business services provider’s stock, valued at approximately $687,935,000.

Other large investors have also recently made changes to their positions in the company. Manchester Capital Management LLC bought a new stake in Waste Connections during the 4th quarter worth approximately $26,000. Private Trust Co. NA increased 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 purchasing an additional 92 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Waste Connections during the 4th quarter valued at $27,000. Smartleaf Asset Management LLC boosted its holdings in 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 buying an additional 71 shares during the period. Finally, Sierra Ocean LLC bought a new position in Waste Connections in the 4th quarter worth $39,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Price Performance

WCN opened at $193.88 on Friday. The business has a fifty day moving average of $186.85 and a 200 day moving average of $182.86. The stock has a market cap of $50.04 billion, a P/E ratio of 81.12, a PEG 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. 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 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 net margin of 6.92% and a return on equity of 15.54%. As a group, sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.315 dividend. 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 is currently 52.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com downgraded Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Morgan Stanley upped their price target on Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. 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 research report on Friday, February 14th. Oppenheimer upped their target price 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 reduced their price target on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a 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 stock. According to MarketBeat.com, Waste Connections currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.43.

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.