XXEC Inc. Makes New Investment in Waste Connections, Inc. $WCN

XXEC Inc. bought a new stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 37,165 shares of the business services provider's stock, valued at approximately $5,946,000. Waste Connections accounts for approximately 0.0% of XXEC Inc.'s investment portfolio, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of WCN. BlackRock Inc. purchased a new stake in shares of Waste Connections in the second quarter worth about $1,061,947,000. Norges Bank bought a new stake in Waste Connections in the 4th quarter worth approximately $697,519,000. The Manufacturers Life Insurance Company bought a new stake in Waste Connections in the 2nd quarter worth approximately $589,671,000. Bank of America Corp DE purchased a new stake in shares of Waste Connections during the 2nd quarter worth approximately $510,526,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Waste Connections during the 2nd quarter worth approximately $414,481,000. 86.09% of the stock is currently owned by institutional investors.

Insider Activity at Waste Connections

In related news, VP Patrick James Shea sold 7,500 shares of the firm's stock in a transaction dated 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 transaction, the vice president owned 19,737 shares of the company's stock, valued at $3,084,103.62. This trade represents a 27.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Philip Rivard sold 2,500 shares of Waste Connections stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the sale, the senior vice president owned 734 shares of the company's stock, valued at $122,262.38. The trade was a 77.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 14,311 shares of company stock worth $2,303,997. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WCN has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Waste Connections from $210.00 to $195.00 and set an "overweight" rating for the company in a report on Monday, July 13th. UBS Group reaffirmed a "neutral" rating and set a $176.00 price target (up from $170.00) on shares of Waste Connections in a research note on Tuesday, August 4th. TD Cowen reiterated a "buy" rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Weiss Ratings restated a "hold (c)" rating on shares of Waste Connections in a report on Friday, August 7th. Finally, Barclays increased their price target on shares of Waste Connections from $180.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $200.89.

Waste Connections Price Performance

Shares of WCN stock opened at $165.88 on Friday. The stock has a 50 day moving average price of $167.49 and a 200 day moving average price of $163.09. 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 $41.73 billion, a P/E ratio of 39.97, a P/E/G ratio of 2.87 and a beta of 0.48.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the company posted $1.29 EPS. Waste Connections's quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts predict that Waste Connections, Inc. will post 5.62 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a $0.35 dividend. 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 dividend payout ratio 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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