Bridges Investment Management Inc. Invests $367,000 in Waste Connections, Inc. (NYSE:WCN)

Bridges Investment Management Inc. acquired a new stake in shares of Waste Connections, Inc. (NYSE:WCN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,093 shares of the business services provider’s stock, valued at approximately $367,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WCN. Amalgamated Bank raised its position in shares of Waste Connections by 54.4% in the fourth quarter. Amalgamated Bank now owns 565 shares of the business services provider’s stock worth $84,000 after buying an additional 199 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Waste Connections by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 340,237 shares of the business services provider’s stock valued at $50,786,000 after acquiring an additional 18,503 shares during the last quarter. UBS Group AG grew its holdings in shares of Waste Connections by 3.2% during the fourth quarter. UBS Group AG now owns 374,208 shares of the business services provider’s stock worth $55,858,000 after purchasing an additional 11,600 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Waste Connections by 53.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,680 shares of the business services provider’s stock worth $400,000 after purchasing an additional 936 shares during the last quarter. Finally, US Bancorp DE lifted its position in Waste Connections by 24.7% during the fourth quarter. US Bancorp DE now owns 65,034 shares of the business services provider’s stock valued at $9,708,000 after purchasing an additional 12,865 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

Insiders Place Their Bets

In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction 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 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 filing with the SEC, which is available through the SEC website. In other news, SVP Robert Nielsen III sold 1,000 shares of the company’s 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 sale, the senior vice president now directly 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 can be accessed through this link. Also, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections 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 of the company’s stock, valued at $8,706,466.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,600 shares of company stock worth $3,842,550. Company insiders own 0.31% of the company’s stock.

Waste Connections Stock Down 0.0 %

Shares of NYSE:WCN opened at $179.15 on Friday. The stock’s 50-day moving average is $181.85 and its 200 day moving average is $173.42. The company has a market cap of $46.22 billion, a PE ratio of 58.17, 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. Waste Connections, Inc. has a 1 year low of $126.12 and a 1 year high of $187.54.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. The company had revenue of $2.25 billion during 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 firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. Sell-side analysts anticipate that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders 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 yield of 0.64%. Waste Connections’s payout ratio is 37.01%.

Analysts Set New Price Targets

Several research firms have recently weighed in on WCN. JPMorgan Chase & Co. raised their price objective on shares of Waste Connections from $175.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. TD Cowen lifted their price target on Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. CIBC increased their price objective on Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a research report on Friday, July 26th. Truist Financial boosted their target price on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Raymond James increased their price target on shares of Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research report on Monday, July 22nd. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and an average price target of $187.28.

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.