6,959 Shares in Waste Connections, Inc. (NYSE:WCN) Purchased by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership purchased a new position in Waste Connections, Inc. (NYSE:WCN) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,959 shares of the business services provider’s stock, valued at approximately $1,220,000. Waste Connections makes up 0.5% of Foresight Group Ltd Liability Partnership’s investment portfolio, making the stock its 18th biggest position.

A number of other institutional investors have also recently bought and sold shares of WCN. Wellington Management Group LLP increased its stake in 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 purchasing an additional 1,320,933 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in Waste Connections by 113.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,188,703 shares of the business services provider’s stock worth $177,438,000 after acquiring an additional 630,685 shares during the period. TD Asset Management Inc boosted its position in 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. Principal Financial Group Inc. boosted its position in Waste Connections by 1,167.4% during the 2nd quarter. Principal Financial Group Inc. now owns 473,422 shares of the business services provider’s stock worth $83,020,000 after acquiring an additional 436,067 shares during the period. Finally, Zurich Insurance Group Ltd FI boosted its position in Waste Connections by 438.5% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 535,471 shares of the business services provider’s stock worth $92,106,000 after acquiring an additional 436,041 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on WCN. JPMorgan Chase & Co. raised their price objective on Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Truist Financial raised their price objective on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. CIBC raised their price objective on Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price target on shares of Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Connections in a report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price target for the company. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.28.

Waste Connections Price Performance

NYSE:WCN opened at $177.86 on Thursday. Waste Connections, Inc. has a one year low of $126.12 and a one year high of $187.54. The company has a market cap of $45.89 billion, a P/E ratio of 57.75, a P/E/G ratio of 2.96 and a beta of 0.72. The firm’s fifty day moving average price is $181.88 and its two-hundred day moving average price is $173.25. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.07. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the business posted $1.02 earnings per share. Waste Connections’s revenue was up 11.2% compared to the same quarter last year. Equities analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.64%. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Insider Activity at Waste Connections

In related news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the transaction, the chief financial officer now owns 48,899 shares in the company, valued at approximately $8,706,466.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the sale, the senior vice president now owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mary Anne Whitney sold 16,300 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the sale, the chief financial officer now directly owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. The disclosure for this sale can be found here. Insiders sold a total of 21,600 shares of company stock worth $3,842,550 in the last quarter. 0.31% of the stock is owned by insiders.

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.