Quantinno Capital Management LP grew its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 60.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,868 shares of the business services provider's stock after purchasing an additional 14,288 shares during the period. Quantinno Capital Management LP's holdings in Waste Connections were worth $6,150,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of WCN. City Holding Co. purchased a new position in Waste Connections during the fourth quarter worth approximately $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections during the third quarter worth $26,000. Whipplewood Advisors LLC raised its holdings in Waste Connections by 1,166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider's stock valued at $31,000 after acquiring an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC increased its holdings in shares of Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider's stock valued at $31,000 after purchasing an additional 135 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Waste Connections in the 4th quarter worth $36,000. 86.09% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the acquisition, the chief executive officer directly owned 301,017 shares in the company, valued at $45,826,828.08. The trade was a 19.92% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value 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. This represents a 27.54% 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 in the last 90 days. Corporate insiders own 0.27% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on WCN shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $218.00 price target (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $199.00 price target on shares of Waste Connections in a research report on Friday, July 24th. TD Cowen reiterated a "buy" rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. UBS Group reiterated a "neutral" rating and set a $176.00 target price (up from $170.00) on shares of Waste Connections in a research note on Tuesday. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Two 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. According to MarketBeat.com, Waste Connections has a consensus rating of "Moderate Buy" and an average target price of $200.89.
Get Our Latest Report on Waste Connections
Waste Connections Trading Down 0.7%
Shares of WCN stock opened at $164.37 on Thursday. The business's fifty day moving average price is $163.31 and its 200 day moving average price is $163.24. The firm has a market capitalization of $41.48 billion, a PE ratio of 39.61, a P/E/G ratio of 2.84 and a beta of 0.48. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $191.00.
Waste Connections (NYSE:WCN - Get Free Report) last released its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating 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 company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the company earned $1.29 earnings per share. Waste Connections's quarterly revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.
Waste Connections Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections's dividend payout ratio is presently 33.73%.
Waste Connections Profile
(
Free Report)
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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