Quantbot Technologies LP Grows Position in Waste Connections, Inc. (NYSE:WCN)

Quantbot Technologies LP increased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 46.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,505 shares of the business services provider’s stock after purchasing an additional 3,659 shares during the period. Quantbot Technologies LP’s holdings in Waste Connections were worth $1,979,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Duality Advisers LP purchased a new position in shares of Waste Connections during the 1st quarter worth about $686,000. 9258 Wealth Management LLC purchased a new stake in Waste Connections in the 1st quarter valued at about $225,000. Mediolanum International Funds Ltd purchased a new stake in Waste Connections in the 1st quarter valued at about $2,986,000. AA Financial Advisors LLC purchased a new stake in Waste Connections in the 1st quarter valued at about $333,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in Waste Connections by 27.3% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,433 shares of the business services provider’s stock valued at $591,000 after buying an additional 737 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WCN. Deutsche Bank Aktiengesellschaft began 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. StockNews.com raised shares of Waste Connections from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. CIBC boosted their price objective on shares of Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Truist Financial boosted their price objective on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price objective on shares of Waste Connections from $182.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.88.

Waste Connections Stock Up 0.9 %

Shares of NYSE WCN traded up $1.59 during trading hours on Friday, hitting $180.56. 997,650 shares of the stock were exchanged, compared to its average volume of 898,497. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.00. The company has a market cap of $46.59 billion, a PE ratio of 58.45, a PEG ratio of 2.87 and a beta of 0.72. The firm has a fifty day moving average price of $169.53 and a 200-day moving average price of $164.21. Waste Connections, Inc. has a 12 month low of $126.12 and a 12 month high of $181.39.

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

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th were paid a dividend of $0.285 per share. The ex-dividend date was Tuesday, May 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.63%. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Robert Nielsen III sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total transaction 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 Securities & Exchange Commission, which is available at the SEC website. In other Waste Connections news, SVP Robert Nielsen III sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total transaction 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael W. Harlan sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $167.59, for a total transaction of $251,385.00. Following the transaction, the director now owns 8,004 shares in the company, valued at approximately $1,341,390.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,500 shares of company stock worth $752,385. 0.31% of the stock is 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.