Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Invests $2.31 Million in Waste Connections, Inc. $WCN

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN) in the second quarter, HoldingsChannel.com reports. The fund purchased 12,386 shares of the business services provider’s stock, valued at approximately $2,313,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Waste Connections during the second quarter worth $755,938,000. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Waste Connections by 195.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider’s stock worth $224,961,000 after buying an additional 762,468 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Waste Connections during the 2nd quarter worth $140,935,000. Montrusco Bolton Investments Inc. boosted its position in shares of Waste Connections by 46.6% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 2,306,702 shares of the business services provider’s stock worth $419,451,000 after buying an additional 732,718 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Waste Connections by 14.0% in the 2nd quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider’s stock valued at $975,190,000 after acquiring an additional 642,426 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WCN shares. Oppenheimer lifted their target price on shares of Waste Connections from $205.00 to $206.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Scotiabank restated an “outperform” rating and set a $210.00 price objective on shares of Waste Connections in a research report on Thursday, October 23rd. Barclays reaffirmed a “negative” rating on shares of Waste Connections in a research note on Thursday, October 23rd. UBS Group set a $195.00 price target on Waste Connections and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Finally, Sanford C. Bernstein initiated coverage on Waste Connections in a research report on Wednesday, November 12th. They issued an “outperform” rating and a $200.00 price objective on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Waste Connections has an average rating of “Buy” and an average target price of $208.32.

Insider Transactions at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the sale, the director owned 14,883 shares in the company, valued at $2,596,190.52. This trade represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.28% of the stock is owned by company insiders.

Waste Connections Trading Down 1.5%

Shares of WCN opened at $170.46 on Tuesday. Waste Connections, Inc. has a twelve month low of $163.27 and a twelve month high of $201.66. The firm has a market capitalization of $43.59 billion, a P/E ratio of 71.03, a price-to-earnings-growth ratio of 3.25 and a beta of 0.62. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.07. The stock’s fifty day simple moving average is $172.19 and its 200 day simple moving average is $180.23.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.38 by $0.06. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.35 earnings per share. On average, equities research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th were issued a $0.35 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s dividend payout ratio (DPR) is currently 58.33%.

Waste Connections 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.