Harber Asset Management LLC Makes New Investment in Waste Connections, Inc. $WCN

Harber Asset Management LLC acquired a new position in Waste Connections, Inc. (NYSE:WCN) during the second quarter, according to its most recent filing with the SEC. The firm acquired 24,594 shares of the business services provider’s stock, valued at approximately $4,100,000. Waste Connections comprises approximately 2.5% of Harber Asset Management LLC’s holdings, making the stock its 19th biggest holding.

Several other hedge funds have also recently made changes to their positions in WCN. Landscape Capital Management L.L.C. bought a new position in shares of Waste Connections during the second quarter valued at approximately $984,000. Korea Investment CORP purchased a new stake in Waste Connections in the second quarter worth $42,265,000. EP Wealth Advisors LLC bought a new stake in Waste Connections in the second quarter valued at $946,000. Ieq Capital LLC bought a new stake in Waste Connections in the second quarter valued at $25,704,000. Finally, Callan Family Office LLC purchased a new position in Waste Connections during the 2nd quarter valued at $1,629,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Price Performance

Shares of WCN stock opened at $169.81 on Friday. The business’s fifty day moving average is $166.53 and its 200 day moving average is $163.17. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The stock has a market cap of $42.72 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 2.89 and a beta of 0.48. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $188.09.

Waste Connections (NYSE:WCN) 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 business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts expect that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, August 6th. Waste Connections’s dividend payout ratio (DPR) is presently 33.73%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays upped their price objective on shares of Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. UBS Group reaffirmed 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, August 4th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $199.00 price target on shares of Waste Connections in a research report on Friday, July 24th. TD Cowen reissued a “buy” rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and an average price target of $200.89.

Insider Buying and Selling at Waste Connections

In related news, VP Patrick James Shea sold 7,500 shares of Waste Connections stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the transaction, the vice president directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Philip Rivard sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the sale, the senior vice president directly owned 734 shares in the company, valued at $122,262.38. The trade was a 77.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 14,311 shares of company stock valued at $2,303,997. Insiders own 0.27% of the company’s stock.

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.