Middleton & Co. Inc. MA Purchases 4,992 Shares of Waste Connections, Inc. $WCN

Middleton & Co. Inc. MA lifted its holdings in Waste Connections, Inc. (NYSE:WCN) by 11.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,856 shares of the business services provider’s stock after purchasing an additional 4,992 shares during the period. Middleton & Co. Inc. MA’s holdings in Waste Connections were worth $7,213,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of WCN. Carderock Capital Management Inc. lifted its holdings in shares of Waste Connections by 1.3% during the 3rd quarter. Carderock Capital Management Inc. now owns 35,474 shares of the business services provider’s stock worth $5,461,000 after acquiring an additional 447 shares during the period. MBL Wealth LLC grew its stake in shares of Waste Connections by 93.6% during the third quarter. MBL Wealth LLC now owns 3,384 shares of the business services provider’s stock valued at $521,000 after purchasing an additional 1,636 shares during the last quarter. Lmcg Investments LLC boosted its stake in Waste Connections by 11.4% during the 3rd quarter. Lmcg Investments LLC now owns 62,580 shares of the business services provider’s stock worth $9,633,000 after acquiring an additional 6,388 shares during the last quarter. Capstone Capital Management Ltd acquired a new position in shares of Waste Connections in the 3rd quarter valued at $412,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in Waste Connections by 25.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 29,119 shares of the business services provider’s stock valued at $4,482,000 after acquiring an additional 5,959 shares during the period. 86.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WCN has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Waste Connections from $195.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, October 8th. Citigroup reissued a “neutral” rating and issued a $192.00 target price (up from $175.00) on shares of Waste Connections in a research report on Friday. Raymond James Financial set a $189.00 target price on Waste Connections in a research report on Friday, October 9th. Wells Fargo & Company boosted their target price on Waste Connections from $187.00 to $211.00 and gave the company an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $205.00 price target on shares of Waste Connections in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.39.

Waste Connections Stock Up 0.9%

Waste Connections stock opened at $186.48 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 1.20. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $187.27. The company has a fifty day simple moving average of $161.75 and a 200 day simple moving average of $161.73. The company has a market cap of $46.72 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 3.28 and a beta of 0.49.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, October 21st. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.52 by $0.06. Waste Connections had a net margin of 11.40% and a return on equity of 17.76%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Waste Connections’s revenue for the quarter was up 23.8% compared to the same quarter last year. Research analysts anticipate that Waste Connections, Inc. will post 5.70 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be given a $0.3850 dividend. This is an increase from Waste Connections’s previous quarterly dividend of $0.35. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, November 5th. Waste Connections’s dividend payout ratio (DPR) is presently 31.32%.

Insider Transactions at Waste Connections

In related news, SVP Philip Rivard sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert Cloninger sold 2,811 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the completion of the transaction, the senior vice president owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.27% of the stock is currently owned by insiders.

Waste Connections News Summary

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: Analysts raised price targets: Deutsche Bank lifted its target from $191 to $205 and maintained a “buy” rating. Wells Fargo raised its target from $187 to $211 and upgraded its stance to “overweight,” while Scotiabank increased its target from $193 to $201 and retained a “sector outperform” rating. The targets imply approximately 8% to 13% upside from the referenced share price.
• Positive Sentiment: Third-quarter results exceeded expectations: Waste Connections reported adjusted earnings of $1.58 per share, up from $1.44 a year earlier and ahead of the $1.52 consensus estimate. Revenue rose 23.8% year over year to $2.64 billion, also surpassing analyst expectations. Waste Connections Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Improved operating outlook: Management raised its outlook as landfill volumes improved, supporting expectations for continued revenue and profit growth. Acquisitions are also contributing to earnings growth and expanding the company’s disposal-services platform. Waste Connections Raises Outlook as Landfill Volumes Improve
• Positive Sentiment: Dividend increased 10%: Waste Connections raised its quarterly dividend to $0.385 per share from $0.35, equivalent to $1.54 annually. The increase signals confidence in cash flow and enhances shareholder returns. Waste Connections Raised Its Dividend 10%

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.