TD Waterhouse Canada Inc. lifted its position in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 859,373 shares of the business services provider’s stock after purchasing an additional 26,006 shares during the period. TD Waterhouse Canada Inc. owned 0.34% of Waste Connections worth $141,646,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of WCN. Concurrent Investment Advisors LLC lifted its stake in Waste Connections by 23.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 2,899 shares of the business services provider’s stock valued at $483,000 after purchasing an additional 549 shares during the last quarter. Ewing Morris & Co. Investment Partners Ltd. increased its position in Waste Connections by 46.1% during the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,988 shares of the business services provider’s stock worth $331,000 after buying an additional 627 shares during the last quarter. Nykredit A S bought a new stake in Waste Connections in the second quarter valued at approximately $9,788,000. Pacifica Partners Inc. lifted its position in shares of Waste Connections by 300.0% in the second quarter. Pacifica Partners Inc. now owns 720 shares of the business services provider’s stock valued at $121,000 after buying an additional 540 shares during the last quarter. Finally, Legacy Financial Advisors Inc. acquired a new stake in shares of Waste Connections in the second quarter valued at approximately $312,000. 86.09% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
WCN has been the topic of a number of recent analyst reports. TD Cowen reissued a “buy” rating and set a $210.00 target price (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. JPMorgan Chase & Co. cut their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $199.00 price objective on shares of Waste Connections in a research report on Friday, July 24th. UBS Group reiterated a “neutral” rating and issued a $176.00 price objective (up from $170.00) on shares of Waste Connections in a report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.89.
Insider Buying and Selling
In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the transaction, the senior vice president directly owned 734 shares in the company, valued at $122,262.38. The trade was a 77.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert Cloninger sold 2,811 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total value of $480,737.22. Following the transaction, the senior vice president directly owned 11,666 shares of the company’s stock, valued at $1,995,119.32. This trade represents a 19.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.27% of the company’s stock.
Waste Connections Stock Performance
NYSE WCN opened at $166.94 on Friday. The firm has a 50-day moving average price of $168.02 and a two-hundred day moving average price of $163.05. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $182.15. The company has a market capitalization of $42.00 billion, a P/E ratio of 40.23, a P/E/G ratio of 2.82 and a beta of 0.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17.
Waste Connections (NYSE:WCN – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts anticipate that Waste Connections, Inc. will post 5.62 earnings per share for the current year.
Waste Connections Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, August 6th. Waste Connections’s dividend payout ratio (DPR) is currently 33.73%.
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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