4,118 Waste Connections, Inc. $WCN Shares Acquired by Formuepleje A S

Formuepleje A S raised its holdings in Waste Connections, Inc. (NYSE:WCN) by 12.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,662 shares of the business services provider’s stock after buying an additional 4,118 shares during the period. Formuepleje A S’s holdings in Waste Connections were worth $5,797,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Curated Wealth Partners LLC bought a new stake in Waste Connections during the third quarter worth about $466,000. Sax Wealth Advisors LLC bought a new position in Waste Connections in the third quarter valued at approximately $350,000. Perpetual Ltd grew its stake in Waste Connections by 1.5% in the third quarter. Perpetual Ltd now owns 97,655 shares of the business services provider’s stock valued at $15,032,000 after purchasing an additional 1,466 shares in the last quarter. Athena Wealth Management LLC increased its position in shares of Waste Connections by 6.7% during the 3rd quarter. Athena Wealth Management LLC now owns 1,829 shares of the business services provider’s stock worth $282,000 after purchasing an additional 115 shares during the last quarter. Finally, Douglas Lane & Associates LLC increased its position in shares of Waste Connections by 2.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 335,586 shares of the business services provider’s stock worth $51,657,000 after purchasing an additional 8,754 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Robert 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 transaction of $480,737.22. Following the transaction, the senior vice president directly owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. The trade was a 19.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Philip Rivard sold 2,500 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total value of $416,425.00. Following the completion of the sale, the senior vice president owned 734 shares in the company, valued at approximately $122,262.38. This trade represents a 77.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WCN. 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 note on Friday, July 24th. Canadian Imperial Bank of Commerce set a $184.00 price objective on Waste Connections and gave the company an “outperformer” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. decreased their target price on shares of Waste Connections from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. Finally, Wolfe Research initiated coverage on shares of Waste Connections in a report on Tuesday, September 15th. They set an “outperform” rating and a $204.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Waste Connections has a consensus rating of “Moderate Buy” and an average target price of $199.00.

Waste Connections Stock Performance

Shares of WCN stock traded up $6.67 on Thursday, reaching $163.49. The stock had a trading volume of 1,569,284 shares, compared to its average volume of 1,539,316. 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 firm’s 50-day moving average is $160.84 and its two-hundred day moving average is $161.22. The firm has a market capitalization of $41.04 billion, a price-to-earnings ratio of 39.34, a P/E/G ratio of 2.70 and a beta of 0.49. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $179.74.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the business posted $1.29 EPS. Waste Connections’s revenue was up 6.4% on a year-over-year basis. On average, research analysts expect that Waste Connections, Inc. will post 5.65 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.35 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections’s dividend payout ratio is currently 33.73%.

Waste Connections Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal, recycling and resource recovery services. The company serves residential, commercial, industrial and construction customers through local operations and provides services under municipal and other contracted arrangements.

Its business includes curbside and commercial waste collection, transfer stations, solid waste landfills, recycling facilities and organics processing. Waste Connections also provides environmental services for energy-producing customers, including the management and disposal of non-hazardous oilfield waste, and operates resource recovery and renewable energy projects in connection with certain waste facilities.

Founded in 1997, Waste Connections serves communities across the United States and Canada.