13,294 Shares in Waste Connections, Inc. $WCN Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp. purchased 13,294 shares of Waste Connections in the second quarter, valued at approximately $2.2 million. Institutional investors collectively own 86.09% of the company.
• Waste Connections reported quarterly EPS of $1.50, beating estimates by $0.15, while revenue rose 6.4% year over year to $2.56 billion. The company also declared a quarterly dividend of $0.35 per share, representing an annualized yield of about 0.8%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $200.89; however, company insiders sold 14,311 shares worth roughly $2.3 million over the past 90 days.

OMERS ADMINISTRATION Corp purchased a new position in Waste Connections, Inc. (NYSE:WCN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,294 shares of the business services provider's stock, valued at approximately $2,216,000.

Other large investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new stake in shares of Waste Connections in the 3rd quarter worth approximately $26,000. Whipplewood Advisors LLC lifted its stake in Waste Connections by 1,166.7% during the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider's stock valued at $31,000 after purchasing an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC boosted its holdings in Waste Connections by 346.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider's stock worth $31,000 after buying an additional 135 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Waste Connections during the fourth quarter worth approximately $36,000. Finally, Entrust Financial LLC acquired a new position in Waste Connections in the fourth quarter worth approximately $37,000. Institutional investors own 86.09% of the company's stock.

Insiders Place Their Bets

In other Waste Connections news, VP Patrick James Shea sold 7,500 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was 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 directly owned 19,737 shares in the company, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.59, for a total value of $234,885.00. Following the transaction, the chief operating officer directly owned 32,861 shares in the company, valued at approximately $5,145,703.99. This trade represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,311 shares of company stock valued at $2,303,997 over the last ninety days. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on WCN. TD Cowen reaffirmed a "buy" rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. Barclays raised their price objective on Waste Connections from $180.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. cut their target price on Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. Citigroup upped their target price on Waste Connections from $180.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating and issued a $199.00 price target on shares of Waste Connections in a research report on Friday, July 24th. Two 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, the company has an average rating of "Moderate Buy" and a consensus price target of $200.89.

Waste Connections Trading Up 0.7%

Waste Connections stock opened at $167.32 on Thursday. The company has a 50 day moving average price of $167.25 and a 200 day moving average price of $163.12. 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 firm has a market capitalization of $42.09 billion, a price-to-earnings ratio of 40.32, a P/E/G ratio of 2.85 and a beta of 0.48.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.15. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. Research analysts forecast that Waste Connections, Inc. will post 5.62 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued 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 dividend yield of 0.8%. Waste Connections's payout ratio is currently 33.73%.

About Waste Connections

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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