Brasada Capital Management LP Invests $14.43 Million in Waste Connections, Inc. $WCN

Brasada Capital Management LP purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN) during the second quarter, Holdings Channel.com reports. The firm purchased 86,547 shares of the business services provider’s stock, valued at approximately $14,426,000.

Several other hedge funds have also made changes to their positions in WCN. Kestra Private Wealth Services LLC grew its position in Waste Connections by 2.6% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock worth $449,000 after purchasing an additional 64 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Waste Connections by 1.5% in the first quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider’s stock valued at $701,000 after purchasing an additional 65 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Waste Connections by 12.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 67 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Waste Connections by 21.1% in the fourth quarter. TD Private Client Wealth LLC now owns 407 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 71 shares in the last quarter. Finally, Lido Advisors LLC boosted its position in shares of Waste Connections by 2.4% in the fourth quarter. Lido Advisors LLC now owns 3,056 shares of the business services provider’s stock worth $537,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Insider Buying and Selling

In other news, SVP Philip Rivard sold 2,500 shares of the company’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 completion of the sale, the senior vice president owned 734 shares in the company, valued at approximately $122,262.38. This represents a 77.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jason Craft sold 1,500 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.59, for a total value of $234,885.00. Following the transaction, the chief operating officer directly owned 32,861 shares in the company, valued at approximately $5,145,703.99. This represents a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,311 shares of company stock worth $2,303,997 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Waste Connections Stock Performance

Shares of WCN opened at $165.88 on Friday. The firm has a market cap of $41.73 billion, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 2.87 and a beta of 0.48. The company’s fifty day moving average is $167.49 and its 200-day moving average is $163.09. 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 12 month low of $146.89 and a 12 month high of $185.33.

Waste Connections (NYSE:WCN) last released its quarterly earnings data 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. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. Waste Connections’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 EPS. Equities analysts expect that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given 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 dividend yield of 0.8%. Waste Connections’s payout ratio is currently 33.73%.

Wall Street Analyst Weigh In

WCN has been the topic of a number of research analyst reports. TD Cowen reiterated a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. Citigroup increased their price objective on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Barclays raised their price objective on Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research 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. Finally, JPMorgan Chase & Co. dropped their target price on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.89.

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.