Jupiter Topco LLC purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) during the second quarter, Holdings Channel reports. The fund purchased 213,133 shares of the business services provider’s stock, valued at approximately $35,525,000.
Several other hedge funds and other institutional investors have also modified their holdings of WCN. Nicholas Company Inc. increased its holdings in Waste Connections by 32.4% during the 4th quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider’s stock valued at $78,756,000 after purchasing an additional 109,950 shares in the last quarter. Rathbones Group PLC boosted its stake in Waste Connections by 1.2% in the fourth quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider’s stock worth $117,394,000 after purchasing an additional 7,866 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Waste Connections by 16.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 60,140 shares of the business services provider’s stock worth $10,546,000 after purchasing an additional 8,363 shares during the last quarter. Mirabaud Asset Management Ltd grew its holdings in shares of Waste Connections by 28.9% during the fourth quarter. Mirabaud Asset Management Ltd now owns 56,620 shares of the business services provider’s stock worth $10,754,000 after purchasing an additional 12,680 shares during the last quarter. Finally, Everstar Asset Management LLC acquired a new stake in shares of Waste Connections in the fourth quarter valued at $2,100,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.
Waste Connections Stock Up 0.3%
NYSE WCN opened at $166.19 on Friday. The stock has a market capitalization of $41.81 billion, a P/E ratio of 40.05, a price-to-earnings-growth ratio of 2.85 and a beta of 0.48. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $185.33. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a fifty day moving average of $167.73 and a 200-day moving average of $163.12.
Waste Connections Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s dividend payout ratio is presently 33.73%.
Insider Buying and Selling at Waste Connections
In other news, VP Patrick James Shea sold 7,500 shares of Waste Connections 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 in the company, valued at $3,084,103.62. The trade was a 27.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Michael Cloninger sold 2,811 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the sale, the senior vice president directly owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. This trade represents a 19.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 14,311 shares of company stock valued at $2,303,997. 0.27% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
WCN has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. Barclays increased their price objective on shares of Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. UBS Group restated a “neutral” rating and issued a $176.00 price objective (up from $170.00) on shares of Waste Connections in a research report on Tuesday, August 4th. Citigroup boosted their target price on shares of Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, TD Cowen reiterated 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, July 24th. Two equities 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 stock. Based on data from MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and an average price target of $200.89.
View Our Latest Research 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.
Featured Articles
- Five stocks we like better than Waste Connections
- 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole
- IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings
- Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude?
- Okta Stock Surges 29%—Is $200 the Next Stop?
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.
