Bristol Gate Capital Partners Inc. Purchases New Holdings in Waste Connections, Inc. $WCN

Bristol Gate Capital Partners Inc. acquired a new stake in shares of Waste Connections, Inc. (NYSE:WCN) in the 2nd quarter, HoldingsChannel reports. The firm acquired 3,553 shares of the business services provider’s stock, valued at approximately $592,000. Waste Connections comprises about 0.0% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 28th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its holdings in shares of Waste Connections by 2.6% in the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock valued at $449,000 after purchasing an additional 64 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Waste Connections by 1.5% during the first quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider’s stock worth $701,000 after purchasing an additional 65 shares during the period. Wilmington Savings Fund Society FSB grew its position in Waste Connections by 12.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock valued at $106,000 after buying an additional 67 shares during the last quarter. TD Private Client Wealth LLC grew its position in Waste Connections by 21.1% in the 4th quarter. TD Private Client Wealth LLC now owns 407 shares of the business services provider’s stock valued at $71,000 after buying an additional 71 shares during the last quarter. Finally, Lido Advisors LLC increased its stake in Waste Connections by 2.4% in the 4th quarter. Lido Advisors LLC now owns 3,056 shares of the business services provider’s stock valued at $537,000 after buying an additional 72 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Performance

NYSE:WCN opened at $166.36 on Wednesday. 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, Inc. has a fifty-two week low of $146.89 and a fifty-two week high of $185.33. The stock has a market cap of $41.85 billion, a PE ratio of 40.09, a price-to-earnings-growth ratio of 2.90 and a beta of 0.48. The firm’s fifty day simple moving average is $167.00 and its 200-day simple moving average is $163.13.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business 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 firm posted $1.29 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. Analysts expect that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Citigroup boosted their price target on shares of Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Barclays increased their price target 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. Finally, 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 report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and a consensus price target of $200.89.

Insider Activity at Waste Connections

In other news, VP Patrick James Shea sold 7,500 shares of Waste Connections stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Michael Cloninger sold 2,811 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total value of $480,737.22. Following the sale, the senior vice president directly owned 11,666 shares in the company, valued at $1,995,119.32. This trade represents a 19.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 14,311 shares of company stock valued at $2,303,997. 0.27% of the stock is currently owned by corporate insiders.

Waste Connections Company 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.