Canada Pension Plan Investment Board increased its position in Waste Connections Inc (NYSE:WCN) by 8.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,135 shares of the business services provider’s stock after acquiring an additional 37,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Waste Connections were worth $35,769,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in WCN. Quantitative Systematic Strategies LLC lifted its position in Waste Connections by 213.9% in the second quarter. Quantitative Systematic Strategies LLC now owns 43,265 shares of the business services provider’s stock worth $3,257,000 after buying an additional 29,482 shares during the last quarter. Trexquant Investment LP bought a new stake in Waste Connections in the second quarter worth $216,000. SG Americas Securities LLC lifted its position in Waste Connections by 71.9% in the second quarter. SG Americas Securities LLC now owns 13,360 shares of the business services provider’s stock worth $1,006,000 after buying an additional 5,587 shares during the last quarter. Toronto Dominion Bank lifted its position in Waste Connections by 115.0% in the second quarter. Toronto Dominion Bank now owns 1,126,901 shares of the business services provider’s stock worth $85,916,000 after buying an additional 602,814 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Waste Connections by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 337,685 shares of the business services provider’s stock worth $25,420,000 after buying an additional 2,539 shares during the last quarter. 84.03% of the stock is owned by institutional investors.
A number of research firms have weighed in on WCN. TD Securities increased their target price on Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Friday, May 25th. BMO Capital Markets set a $82.00 target price on Waste Connections and gave the stock a “buy” rating in a research note on Friday, May 4th. Royal Bank of Canada increased their target price on Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Finally, Citigroup increased their target price on Waste Connections from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Waste Connections presently has an average rating of “Buy” and an average target price of $83.00.
WCN stock opened at $80.08 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.15 and a current ratio of 1.15. Waste Connections Inc has a twelve month low of $63.50 and a twelve month high of $80.17. The firm has a market capitalization of $20.78 billion, a price-to-earnings ratio of 37.07, a price-to-earnings-growth ratio of 2.70 and a beta of 0.07.
Waste Connections (NYSE:WCN) last released its earnings results on Tuesday, July 24th. The business services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Waste Connections had a return on equity of 9.90% and a net margin of 14.80%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. sell-side analysts predict that Waste Connections Inc will post 2.5 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 21st. Stockholders of record on Tuesday, August 7th will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, August 6th. This represents a $0.56 annualized dividend and a dividend yield of 0.70%. Waste Connections’s dividend payout ratio is currently 25.93%.
In other news, President Steven F. Bouck sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $76.31, for a total transaction of $763,100.00. Following the transaction, the president now owns 303,439 shares in the company, valued at $23,155,430.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James Little sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $76.28, for a total value of $228,840.00. Following the transaction, the insider now owns 22,709 shares in the company, valued at approximately $1,732,242.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,000 shares of company stock worth $1,371,640. Insiders own 0.40% of the company’s stock.
About Waste Connections
Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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