OMERS ADMINISTRATION Corp reduced its stake in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) by 98.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,784 shares of the business services provider’s stock after selling 1,104,668 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Waste Connections were worth $1,914,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in WCN. Trium Capital LLP purchased a new stake in Waste Connections in the 4th quarter valued at about $1,995,000. Nicholas Company Inc. increased its position in shares of Waste Connections by 32.4% during the fourth quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider’s stock valued at $78,756,000 after acquiring an additional 109,950 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Waste Connections by 161.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,114 shares of the business services provider’s stock valued at $3,332,000 after acquiring an additional 11,810 shares during the period. Rathbones Group PLC raised its stake in shares of Waste Connections by 1.2% in the 4th quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider’s stock valued at $117,394,000 after acquiring an additional 7,866 shares during the period. Finally, Mirabaud Asset Management Ltd lifted its holdings in shares of Waste Connections by 28.9% in the 4th quarter. Mirabaud Asset Management Ltd now owns 56,620 shares of the business services provider’s stock worth $10,754,000 after acquiring an additional 12,680 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.
Waste Connections Stock Performance
Shares of Waste Connections stock opened at $172.93 on Thursday. The firm’s fifty day simple moving average is $162.12 and its 200-day simple moving average is $163.21. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $191.73. The stock has a market capitalization of $43.64 billion, a price-to-earnings ratio of 41.67, a PEG ratio of 2.90 and a beta of 0.49. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66.
Waste Connections Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections’s dividend payout ratio is currently 33.73%.
Insider Transactions at Waste Connections
In other Waste Connections news, VP Patrick James Shea sold 7,500 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the sale, the vice president directly owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.59, for a total transaction of $234,885.00. Following the transaction, the chief operating officer directly owned 32,861 shares of the company’s stock, valued at $5,145,703.99. This trade represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.27% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on WCN. TD Cowen reissued a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Citigroup lifted their price objective on Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. cut their price objective on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. The Goldman Sachs Group reissued a “buy” rating and set a $211.00 target price on shares of Waste Connections in a research note on Thursday, April 23rd. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $199.00 price target on shares of Waste Connections in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.42.
Check Out Our Latest Stock Report on WCN
Waste Connections Profile
Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.
The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.
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