Alberta Investment Management Corp Buys Shares of 69,019 Waste Connections, Inc. $WCN

Alberta Investment Management Corp purchased a new position in Waste Connections, Inc. (NYSE:WCN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 69,019 shares of the business services provider's stock, valued at approximately $11,492,000.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Waste Connections in the 4th quarter worth approximately $697,519,000. Capital International Investors grew its position in Waste Connections by 28.2% during the fourth quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock valued at $1,134,781,000 after buying an additional 1,420,921 shares during the period. JPMorgan Chase & Co. grew its position in Waste Connections by 37.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider's stock valued at $835,370,000 after buying an additional 1,289,042 shares during the period. Wellington Management Group LLP increased its holdings in Waste Connections by 39.6% during the third quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider's stock valued at $783,218,000 after buying an additional 1,264,150 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Waste Connections by 48.7% during the first quarter. The Manufacturers Life Insurance Company now owns 3,724,204 shares of the business services provider's stock valued at $604,573,000 after buying an additional 1,219,056 shares during the last quarter. Institutional investors own 86.09% of the company's stock.

Insider Activity

In related news, SVP Robert Michael Cloninger sold 2,811 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the transaction, 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jason Craft sold 1,500 shares of the firm's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the transaction, the chief operating officer directly owned 32,861 shares of the company's stock, valued at $5,145,703.99. The trade was a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,811 shares of company stock worth $1,887,572 over the last quarter. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WCN. Weiss Ratings reiterated a "hold (c)" rating on shares of Waste Connections in a research report on Friday, August 7th. BMO Capital Markets reissued an "outperform" rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Barclays upped 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. UBS Group reaffirmed a "neutral" rating and issued a $176.00 target price (up from $170.00) on shares of Waste Connections in a report on Tuesday, August 4th. 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 research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $200.89.

Waste Connections Price Performance

NYSE:WCN opened at $166.22 on Monday. The business's 50-day simple moving average is $165.41 and its two-hundred day simple moving average is $163.15. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $188.75. The stock has a market cap of $41.82 billion, a PE ratio of 40.05, a P/E/G ratio of 2.86 and a beta of 0.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17.

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

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections's dividend payout ratio (DPR) is presently 33.73%.

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.

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