Sunriver Management LLC acquired a new position in Waste Connections, Inc. (NYSE:WCN – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 322,683 shares of the business services provider’s stock, valued at approximately $52,417,000. Waste Connections accounts for approximately 8.9% of Sunriver Management LLC’s investment portfolio, making the stock its 3rd biggest position.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. City Holding Co. bought a new position in shares of Waste Connections in the 4th quarter valued at about $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Waste Connections during the third quarter worth approximately $26,000. Whipplewood Advisors LLC lifted its holdings in Waste Connections by 1,166.7% in the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after buying an additional 175 shares during the period. Transamerica Financial Advisors LLC boosted 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 valued at $31,000 after acquiring an additional 135 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Waste Connections in the fourth quarter valued at approximately $36,000. 86.09% of the stock is owned by institutional investors.
Waste Connections Trading Up 0.9%
Shares of NYSE WCN opened at $169.52 on Friday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $191.91. The stock has a market cap of $42.78 billion, a price-to-earnings ratio of 40.85, a P/E/G ratio of 2.94 and a beta of 0.49. The company has a quick ratio of 0.69, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The company’s fifty day moving average is $161.36 and its 200-day moving average is $163.28.
Waste Connections Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 6th. Waste Connections’s payout ratio is presently 33.73%.
Insider Buying and Selling
In other Waste Connections news, COO Jason Craft sold 1,500 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.59, for a total value of $234,885.00. Following the completion of the sale, the chief operating officer directly owned 32,861 shares in the company, valued at $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the acquisition, the chief executive officer directly owned 301,017 shares in the company, valued at $45,826,828.08. This represents a 19.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 17,605 shares of company stock valued at $2,822,923. 0.27% of the stock is owned by company insiders.
Analyst Ratings Changes
WCN has been the topic of a number of analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $211.00 price target on shares of Waste Connections in a research note on Thursday, April 23rd. Barclays set a $180.00 price objective on Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. BMO Capital Markets restated an “outperform” rating and set a $208.00 target price (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. TD Cowen restated a “buy” rating and set a $210.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $199.00 price target on shares of Waste Connections in a research note on Friday. Two research 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 company. According to data from MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and an average price target of $202.05.
Check Out Our Latest Research Report 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.
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