Junto Capital Management LP decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) by 69.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,857 shares of the business services provider’s stock after selling 251,630 shares during the quarter. Junto Capital Management LP’s holdings in Waste Connections were worth $18,145,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evolve Private Wealth LLC bought a new position in Waste Connections in the 2nd quarter valued at about $1,022,000. Rathbones Group PLC boosted its holdings in shares of Waste Connections by 1.2% during the fourth quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider’s stock worth $117,394,000 after acquiring an additional 7,866 shares during the period. Everstar Asset Management LLC bought a new stake in shares of Waste Connections during the fourth quarter worth approximately $2,100,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Waste Connections in the second quarter valued at approximately $12,398,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in shares of Waste Connections in the fourth quarter valued at approximately $646,000. 86.09% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on WCN. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $199.00 price objective on shares of Waste Connections in a research report on Friday, July 24th. Barclays lifted their target price on 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 reissued a “neutral” rating and issued a $176.00 target price (up from $170.00) on shares of Waste Connections in a research report on Tuesday, August 4th. Finally, Citigroup upped their price target on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Waste Connections currently has a consensus rating of “Moderate Buy” and an average target price of $200.89.
Insiders Place Their Bets
In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total value of $416,425.00. Following the sale, the senior vice president owned 734 shares of the company’s stock, valued at approximately $122,262.38. This trade represents a 77.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert Cloninger sold 2,811 shares of Waste Connections stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the completion of the transaction, the senior vice president owned 11,666 shares in the company, valued at approximately $1,995,119.32. The trade was a 19.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.27% of the company’s stock.
Waste Connections Price Performance
Shares of NYSE:WCN opened at $161.16 on Thursday. The firm has a 50 day moving average of $167.77 and a 200-day moving average of $163.08. The stock has a market capitalization of $40.54 billion, a PE ratio of 38.83, a PEG ratio of 2.80 and a beta of 0.48. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $179.74.
Waste Connections (NYSE:WCN – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. On average, equities research analysts predict that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.
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 paid a dividend of $0.35 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections’s dividend payout ratio is presently 33.73%.
Waste Connections Profile
Waste Connections, Inc is an integrated solid waste services company that provides collection, transfer, disposal, recycling and resource-recovery services across the United States and Canada. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills and recycling facilities.
Its services include curbside and containerized waste collection, construction and demolition debris management, recycling, landfill disposal, and the management of non-hazardous oilfield waste.
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