Brasada Capital Management LP Acquires New Position in Waste Connections, Inc. $WCN

Brasada Capital Management LP acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 86,547 shares of the business services provider’s stock, valued at approximately $14,426,000.

A number of other large investors have also recently bought and sold shares of the business. Measured Wealth Private Client Group LLC acquired a new stake in shares of Waste Connections during the 3rd quarter worth approximately $26,000. Group One Trading LLC acquired a new position in Waste Connections during the 2nd quarter valued at approximately $30,000. Transamerica Financial Advisors LLC boosted its position in Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 135 shares during the period. Whipplewood Advisors LLC boosted its position in Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 175 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Waste Connections during the 4th quarter worth $36,000. Institutional investors own 86.09% of the company’s stock.

Analyst Ratings Changes

WCN has been the topic of several analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $199.00 target price on shares of Waste Connections in a research report on Friday, July 24th. Barclays upped their price target on shares of Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. TD Cowen reaffirmed a “buy” rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. Finally, Citigroup lifted their price objective on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and an average price target of $200.89.

Insider Buying and Selling at Waste Connections

In other news, COO Jason Craft sold 1,500 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.59, for a total transaction of $234,885.00. Following the sale, the chief operating officer directly owned 32,861 shares of the company’s stock, valued at $5,145,703.99. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Philip Rivard sold 2,500 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total value of $416,425.00. Following the sale, the senior vice president directly owned 734 shares of the company’s stock, valued at approximately $122,262.38. This represents a 77.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,311 shares of company stock valued at $2,303,997 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Waste Connections Trading Down 0.8%

Shares of WCN stock opened at $165.88 on Friday. The stock has a 50-day simple moving average of $167.49 and a 200 day simple moving average of $163.09. The stock has a market capitalization of $41.73 billion, a P/E ratio of 39.97, a P/E/G ratio of 2.87 and a beta of 0.48. Waste Connections, Inc. has a fifty-two week low of $146.89 and a fifty-two week high of $185.33. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the business earned $1.29 earnings per share. Waste Connections’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts expect that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio is currently 33.73%.

Waste Connections Company Profile

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.