Capital World Investors Buys 230 Shares of Waste Connections, Inc. (NYSE:WCN)

Capital World Investors raised its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 0.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 906,585 shares of the business services provider’s stock after purchasing an additional 230 shares during the quarter. Capital World Investors owned approximately 0.35% of Waste Connections worth $155,941,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WCN. Vanguard Group Inc. increased its position in shares of Waste Connections by 0.3% during the first quarter. Vanguard Group Inc. now owns 28,498,983 shares of the business services provider’s stock valued at $4,902,110,000 after buying an additional 88,137 shares during the period. TD Asset Management Inc grew its holdings in shares of Waste Connections by 9.8% during the 4th quarter. TD Asset Management Inc now owns 5,715,923 shares of the business services provider’s stock worth $856,641,000 after acquiring an additional 509,929 shares during the period. Wellington Management Group LLP raised its position in shares of Waste Connections by 43.4% in the 4th quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock worth $651,427,000 after acquiring an additional 1,320,933 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Waste Connections by 7.3% in 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 acquiring an additional 280,275 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Waste Connections in the 4th quarter valued at approximately $592,392,000. 86.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BMO Capital Markets upped their price target on Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a research note on Friday. Raymond James upped their target price on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada increased their price target on shares of Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Friday. Oppenheimer boosted their price objective on shares of Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Truist Financial raised their target price on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and a consensus price target of $186.00.

Waste Connections Stock Up 0.1 %

Shares of WCN stock traded up $0.18 during mid-day trading on Friday, hitting $175.66. The company’s stock had a trading volume of 1,140,068 shares, compared to its average volume of 931,511. The stock has a market cap of $45.32 billion, a price-to-earnings ratio of 57.06, a PEG ratio of 2.91 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.70. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $182.99. The business has a 50-day moving average price of $172.59 and a 200 day moving average price of $166.66.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. Waste Connections’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the company earned $1.02 EPS. Research analysts predict that Waste Connections, Inc. will post 4.79 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, August 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.65%. Waste Connections’s payout ratio is 37.01%.

Insider Activity at Waste Connections

In other Waste Connections news, Director Michael W. Harlan sold 1,500 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $167.59, for a total value of $251,385.00. Following the transaction, the director now owns 8,004 shares of the company’s stock, valued at $1,341,390.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $169.00, for a total value of $169,000.00. Following the completion of the sale, the senior vice president now directly owns 5,321 shares in the company, valued at approximately $899,249. The transaction 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 dated Friday, May 10th. The stock was sold at an average price of $167.59, for a total value of $251,385.00. Following the completion of the sale, the director now owns 8,004 shares of the company’s stock, valued at approximately $1,341,390.36. The disclosure for this sale can be found here. Insiders have sold a total of 4,500 shares of company stock worth $752,385 over the last quarter. Company insiders own 0.31% of the company’s stock.

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.