Rathbones Group PLC raised its position in Waste Connections, Inc. (NYSE:WCN – Free Report) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 669,442 shares of the business services provider’s stock after acquiring an additional 7,866 shares during the quarter. Rathbones Group PLC’s holdings in Waste Connections were worth $117,394,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of WCN. CIBC Asset Management Inc grew its position in shares of Waste Connections by 55.7% during the third quarter. CIBC Asset Management Inc now owns 1,991,112 shares of the business services provider’s stock worth $350,603,000 after buying an additional 711,990 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Waste Connections during the third quarter worth about $1,911,000. Cidel Asset Management Inc. grew its position in shares of Waste Connections by 19.5% during the third quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider’s stock worth $28,780,000 after buying an additional 26,684 shares in the last quarter. Procyon Advisors LLC acquired a new position in shares of Waste Connections during the fourth quarter worth about $1,908,000. Finally, Trium Capital LLP acquired a new position in shares of Waste Connections during the fourth quarter worth about $1,995,000. 86.09% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Waste Connections
In other Waste Connections news, SVP Eric Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of the sale, the senior vice president owned 13,350 shares in the company, valued at approximately $2,200,347. The trade was a 31.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of Waste Connections stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the purchase, the chief executive officer owned 301,017 shares of the company’s stock, valued at $45,826,828.08. The trade was a 19.92% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.27% of the stock is owned by company insiders.
Waste Connections Stock Performance
Waste Connections (NYSE:WCN – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.
Waste Connections Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections’s payout ratio is currently 34.15%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Weiss Ratings downgraded Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Morgan Stanley set a $205.00 price objective on Waste Connections and gave the stock an “overweight” rating in a research report on Friday, February 13th. Barclays set a $180.00 price objective on Waste Connections and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their price objective on Waste Connections from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $211.00 price objective on shares of Waste Connections in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $203.35.
Check Out Our Latest Report on Waste Connections
About Waste Connections
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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