Waste Connections, Inc. (NYSE:WCN) Shares Acquired by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. boosted its position in Waste Connections, Inc. (NYSE:WCN) by 12.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,384 shares of the business services provider’s stock after buying an additional 604 shares during the quarter. Waste Connections accounts for approximately 0.0% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 27th biggest holding. Bristol Gate Capital Partners Inc.’s holdings in Waste Connections were worth $944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its position in shares of Waste Connections by 116.2% during the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after acquiring an additional 86 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Waste Connections during the 1st quarter valued at approximately $32,000. Pathway Financial Advisers LLC purchased a new stake in Waste Connections during the 1st quarter worth approximately $43,000. Signature Resources Capital Management LLC acquired a new position in shares of Waste Connections in the 2nd quarter valued at approximately $45,000. Finally, Carolinas Wealth Consulting LLC raised its position in shares of Waste Connections by 3,885.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 272 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Price Performance

Shares of NYSE WCN opened at $179.22 on Friday. Waste Connections, Inc. has a 1-year low of $126.12 and a 1-year high of $187.54. The firm has a market capitalization of $46.24 billion, a PE ratio of 58.19, a P/E/G ratio of 2.96 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. The business’s fifty day moving average price is $181.88 and its two-hundred day moving average price is $173.29.

Waste Connections (NYSE:WCN) last released its quarterly earnings data 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 business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 EPS. On average, research analysts expect that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.64%. Waste Connections’s dividend payout ratio is presently 37.01%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WCN. Raymond James raised their price target on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 22nd. Oppenheimer raised their price objective on shares of Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. TD Cowen upped their target price on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Truist Financial lifted their price target on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Waste Connections in a research note on Thursday, May 23rd. They set a “buy” rating and a $189.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $187.28.

Insider Buying and Selling

In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction on Wednesday, July 31st. The stock was 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 owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares in the company, valued at approximately $778,428.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mary Anne Whitney sold 16,300 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 48,899 shares in the company, valued at approximately $8,706,466.95. The disclosure for this sale can be found here. Insiders sold 21,600 shares of company stock valued at $3,842,550 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

About Waste Connections

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.