Waste Connections Inc (NYSE:WCN) Shares Bought by Waratah Capital Advisors Ltd.

Waratah Capital Advisors Ltd. boosted its stake in shares of Waste Connections Inc (NYSE:WCN) by 95.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,717 shares of the business services provider’s stock after buying an additional 21,299 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Waste Connections were worth $4,021,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Waste Connections by 82.5% during the second quarter. BlackRock Inc. now owns 5,744,080 shares of the business services provider’s stock worth $549,020,000 after purchasing an additional 2,595,817 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Waste Connections by 307.2% in the second quarter. Invesco Ltd. now owns 1,726,038 shares of the business services provider’s stock valued at $164,974,000 after purchasing an additional 1,302,171 shares during the period. Waddell & Reed Financial Inc. purchased a new position in shares of Waste Connections in the second quarter valued at approximately $74,847,000. Royal Bank of Canada boosted its stake in shares of Waste Connections by 6.7% in the second quarter. Royal Bank of Canada now owns 10,154,114 shares of the business services provider’s stock valued at $970,530,000 after purchasing an additional 637,641 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Waste Connections by 2.4% in the second quarter. Vanguard Group Inc. now owns 25,863,503 shares of the business services provider’s stock valued at $2,472,033,000 after purchasing an additional 613,960 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Shares of WCN traded up $0.35 during midday trading on Tuesday, reaching $89.98. The stock had a trading volume of 11,419 shares, compared to its average volume of 1,203,808. The company has a market cap of $23.88 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 3.91 and a beta of 0.14. The company’s fifty day simple moving average is $90.91 and its two-hundred day simple moving average is $92.53. Waste Connections Inc has a 1-year low of $70.28 and a 1-year high of $97.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11.

Waste Connections (NYSE:WCN) last posted its earnings results on Monday, October 28th. The business services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. Waste Connections had a return on equity of 10.62% and a net margin of 10.70%. Waste Connections’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. On average, sell-side analysts forecast that Waste Connections Inc will post 2.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, November 8th. Waste Connections’s dividend payout ratio (DPR) is presently 29.37%.

In related news, Director Michael W. Harlan sold 2,038 shares of Waste Connections stock in a transaction on Friday, September 6th. The shares were sold at an average price of $91.43, for a total transaction of $186,334.34. Following the sale, the director now directly owns 17,425 shares in the company, valued at approximately $1,593,167.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Eddie sold 934 shares of Waste Connections stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $90.55, for a total transaction of $84,573.70. Following the sale, the vice president now owns 41,023 shares in the company, valued at $3,714,632.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,972 shares of company stock valued at $637,668. 0.30% of the stock is owned by company insiders.

A number of equities research analysts have issued reports on the stock. ValuEngine lowered shares of Waste Connections from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Jefferies Financial Group assumed coverage on Waste Connections in a research report on Wednesday, November 27th. They set a “buy” rating and a $106.00 price objective on the stock. Raymond James upped their price objective on Waste Connections from $106.00 to $108.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 22nd. CIBC set a $99.00 price objective on Waste Connections and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. assumed coverage on Waste Connections in a research note on Wednesday, August 7th. They set an “overweight” rating and a $98.00 target price for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $98.22.

Waste Connections Company Profile

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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