Addenda Capital Inc. Has $33.26 Million Stake in Waste Connections, Inc. (NYSE:WCN)

Addenda Capital Inc. trimmed its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,359 shares of the business services provider’s stock after selling 6,666 shares during the period. Waste Connections accounts for about 1.6% of Addenda Capital Inc.’s investment portfolio, making the stock its 19th biggest holding. Addenda Capital Inc. owned approximately 0.07% of Waste Connections worth $33,260,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WCN. Royal Bank of Canada raised its position in shares of Waste Connections by 20.5% during the 3rd quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock valued at $1,516,908,000 after acquiring an additional 1,920,302 shares during the last quarter. TD Asset Management Inc lifted its stake in Waste Connections by 9.8% in the fourth quarter. TD Asset Management Inc now owns 5,715,923 shares of the business services provider’s stock valued at $856,641,000 after buying an additional 509,929 shares during the period. Wellington Management Group LLP boosted its holdings in Waste Connections by 43.4% during the fourth quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock worth $651,427,000 after buying an additional 1,320,933 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Waste Connections by 7.3% during the 4th quarter. 1832 Asset Management L.P. now owns 4,104,003 shares of the business services provider’s stock worth $612,605,000 after buying an additional 280,275 shares during the period. Finally, Norges Bank bought a new stake in shares of Waste Connections in the 4th quarter valued at about $592,392,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Down 0.2 %

Shares of NYSE WCN traded down $0.43 during mid-day trading on Friday, hitting $175.35. The company had a trading volume of 995,988 shares, compared to its average volume of 897,995. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00. The firm has a 50-day simple moving average of $167.20 and a two-hundred day simple moving average of $162.32. The company has a market capitalization of $45.24 billion, a PE ratio of 56.93, a price-to-earnings-growth ratio of 2.77 and a beta of 0.70. Waste Connections, Inc. has a one year low of $126.12 and a one year high of $177.25.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the company earned $0.89 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Waste Connections, Inc. will post 4.85 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.65%. Waste Connections’s payout ratio is 37.01%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WCN. StockNews.com raised shares of Waste Connections from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Connections in a research report on Thursday, May 23rd. They issued a “buy” rating and a $189.00 price objective for the company. Jefferies Financial Group lifted their target price on Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada lowered their price target on Waste Connections from $196.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, UBS Group cut Waste Connections from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $170.00 to $181.00 in a report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $179.94.

Insiders Place Their Bets

In related news, SVP Robert Nielsen III sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total transaction of $332,000.00. Following the transaction, the senior vice president now directly owns 6,321 shares of the company’s stock, valued at approximately $1,049,286. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Robert Nielsen III sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $166.00, for a total value of $332,000.00. Following the transaction, the senior vice president now owns 6,321 shares in the company, valued at approximately $1,049,286. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael W. Harlan sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $167.59, for a total transaction of $251,385.00. Following the sale, the director now owns 8,004 shares of the company’s stock, valued at $1,341,390.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,500 shares of company stock valued at $752,385. 0.31% of the stock is currently owned by corporate insiders.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.