Burgundy Asset Management Ltd. Sells 3,024 Shares of Waste Connections, Inc. (NYSE:WCN)

Burgundy Asset Management Ltd. decreased its position in Waste Connections, Inc. (NYSE:WCN) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 229,967 shares of the business services provider’s stock after selling 3,024 shares during the period. Burgundy Asset Management Ltd. owned approximately 0.09% of Waste Connections worth $40,329,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of 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 valued at $651,427,000 after purchasing an additional 1,320,933 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in Waste Connections by 113.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,188,703 shares of the business services provider’s stock valued at $177,438,000 after buying an additional 630,685 shares during the period. TD Asset Management Inc boosted its holdings in shares of 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 buying an additional 509,929 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of 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 buying an additional 436,067 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI grew its position in shares of 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 buying an additional 436,041 shares during the period. Institutional investors own 86.09% of the company’s stock.

Analyst Upgrades and Downgrades

WCN has been the topic of several research analyst reports. Royal Bank of Canada increased their target price on shares of Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Truist Financial raised their target price on Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Raymond James upped their price target on Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their price target on Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, TD Cowen boosted their price objective on Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Waste Connections has an average rating of “Moderate Buy” and a consensus target price of $187.28.

Insider Transactions at Waste Connections

In related news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 4,321 shares in the company, valued at $778,428.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the transaction, the senior vice president now owns 4,321 shares in the company, valued at $778,428.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Philip Rivard sold 2,300 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $174.75, for a total value of $401,925.00. Following the transaction, the senior vice president now directly owns 1,226 shares of the company’s stock, valued at $214,243.50. The disclosure for this sale can be found here. Insiders have sold 21,600 shares of company stock worth $3,842,550 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Waste Connections Stock Down 2.0 %

Waste Connections stock opened at $177.86 on Thursday. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $187.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s 50-day simple moving average is $181.88 and its 200 day simple moving average is $173.25. The stock has a market cap of $45.89 billion, a PE ratio of 57.75, a price-to-earnings-growth ratio of 2.96 and a beta of 0.72.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 EPS. Research analysts predict that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections’s dividend payout ratio is presently 37.01%.

Waste Connections Company 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.