Waste Connections, Inc. (NYSE:WCN) Short Interest Update

Waste Connections, Inc. (NYSE:WCN) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 2,250,000 shares, a decline of 14.1% from the February 13th total of 2,620,000 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,050,000 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Blueshift Asset Management LLC purchased a new position in shares of Waste Connections in the 3rd quarter worth $552,000. Dynamic Technology Lab Private Ltd purchased a new position in Waste Connections in the third quarter worth about $2,503,000. Barclays PLC increased its stake in Waste Connections by 34.3% during the third quarter. Barclays PLC now owns 303,040 shares of the business services provider’s stock worth $54,190,000 after acquiring an additional 77,466 shares during the last quarter. GAMMA Investing LLC raised its position in Waste Connections by 785.1% during the fourth quarter. GAMMA Investing LLC now owns 4,682 shares of the business services provider’s stock valued at $803,000 after purchasing an additional 4,153 shares during the period. Finally, TCW Group Inc. lifted its stake in shares of Waste Connections by 6.7% in the 3rd quarter. TCW Group Inc. now owns 722,426 shares of the business services provider’s stock valued at $129,184,000 after purchasing an additional 45,215 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Price Performance

Shares of NYSE:WCN traded up $3.18 during midday trading on Wednesday, reaching $190.76. 943,545 shares of the company were exchanged, compared to its average volume of 1,000,433. The stock has a market cap of $49.23 billion, a PE ratio of 79.82, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. The business’s fifty day moving average is $184.73 and its two-hundred day moving average is $182.51. Waste Connections has a one year low of $160.34 and a one year 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.

Waste Connections (NYSE:WCN) last released its quarterly earnings data 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 net margin of 6.92% and a return on equity of 15.54%. As a group, analysts predict that Waste Connections will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.66%. Waste Connections’s dividend payout ratio (DPR) is 52.72%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WCN shares. Stifel Nicolaus raised their price target 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. CIBC decreased 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 note on Thursday, December 19th. Morgan Stanley raised 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. Jefferies Financial Group lowered their target price on Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, StockNews.com downgraded Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.