Cidel Asset Management Inc. raised its stake in Waste Connections, Inc. (NYSE:WCN – Free Report) by 180.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,066 shares of the business services provider’s stock after buying an additional 122,313 shares during the period. Waste Connections comprises 1.7% of Cidel Asset Management Inc.’s holdings, making the stock its 17th biggest holding. Cidel Asset Management Inc.’s holdings in Waste Connections were worth $30,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in the stock. City Holding Co. bought a new stake in shares of Waste Connections during the fourth quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections in the third quarter valued at approximately $26,000. Transamerica Financial Advisors LLC grew its stake in Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after purchasing an additional 135 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in Waste Connections in the third quarter worth approximately $30,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Waste Connections during the 4th quarter worth $36,000. 86.09% of the stock is currently owned by institutional investors.
Insider Transactions at Waste Connections
In related news, SVP Eric Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $164.82, for a total transaction of $988,920.00. Following the completion of the transaction, the senior vice president owned 13,350 shares in the company, valued at $2,200,347. The trade was a 31.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Patrick James Shea sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the sale, the vice president 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 17,605 shares of company stock worth $2,822,923. 0.27% of the stock is owned by corporate insiders.
Waste Connections Trading Up 4.0%
Waste Connections (NYSE:WCN – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.04. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Equities research analysts expect 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 was paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Waste Connections’s payout ratio is presently 34.15%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on WCN shares. Barclays set a $180.00 target price on Waste Connections and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. raised their price target on Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Royal Bank Of Canada restated an “outperform” rating and issued a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. The Goldman Sachs Group restated a “buy” rating and issued a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Waste Connections currently has an average rating of “Moderate Buy” and an average target price of $202.84.
View Our Latest Stock Analysis on WCN
Waste Connections Company 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.
Featured Stories
- Five stocks we like better than Waste Connections
- Oracle’s Sell-Off Looks More Like a Mispricing Than a Warning
- Apple’s Intel Deal Arrives at the Right Time for Its Stock
- Liquid Gold: The AI Cooling Retrofit Trade
- 3 Dividend Stocks Under $30 to Anchor Your Portfolio
Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCN – Free Report).
Receive News & Ratings for Waste Connections Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections and related companies with MarketBeat.com's FREE daily email newsletter.
