Waste Connections, Inc. $WCN Holdings Lifted by Generate Investment Management Ltd

Generate Investment Management Ltd increased its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 55.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,774 shares of the business services provider’s stock after purchasing an additional 23,682 shares during the quarter. Generate Investment Management Ltd’s holdings in Waste Connections were worth $11,739,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of WCN. Norges Bank acquired a new stake in shares of Waste Connections in the second quarter worth about $755,938,000. Picton Mahoney Asset Management acquired a new position in Waste Connections during the second quarter valued at approximately $140,935,000. Montrusco Bolton Investments Inc. raised its holdings in Waste Connections by 46.6% during 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 during the period. Mackenzie Financial Corp boosted its position in Waste Connections by 14.0% during the second quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider’s stock valued at $975,190,000 after purchasing an additional 642,426 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Waste Connections by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 30,867,844 shares of the business services provider’s stock worth $5,764,546,000 after purchasing an additional 620,600 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Performance

WCN opened at $178.19 on Wednesday. Waste Connections, Inc. has a 1-year low of $163.27 and a 1-year high of $201.66. The company has a market cap of $45.57 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 3.54 and a beta of 0.62. The company’s fifty day moving average price is $172.92 and its two-hundred day moving average price is $178.22. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.07.

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

Waste Connections Increases Dividend

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

Insider Buying and Selling

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total value of $1,569,960.00. Following the transaction, the director owned 14,883 shares of the company’s stock, valued at approximately $2,596,190.52. The trade was a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WCN. Sanford C. Bernstein assumed coverage on Waste Connections in a report on Wednesday, November 12th. They set an “outperform” rating and a $200.00 price objective for the company. The Goldman Sachs Group initiated coverage on Waste Connections in a report on Monday, November 24th. They set a “buy” rating and a $202.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a research report on Wednesday, October 8th. Citigroup cut their target price on Waste Connections from $199.00 to $196.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Finally, Barclays reiterated a “negative” rating on shares of Waste Connections in a research note on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Waste Connections currently has an average rating of “Buy” and a consensus target price of $208.37.

About Waste Connections

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.