Cresset Asset Management LLC Raises Holdings in Waste Connections, Inc. (NYSE:WCN)

Cresset Asset Management LLC grew its position in shares of Waste Connections, Inc. (NYSE:WCNFree Report) by 13.5% in the fourth quarter, HoldingsChannel reports. The firm owned 92,759 shares of the business services provider’s stock after buying an additional 11,015 shares during the quarter. Cresset Asset Management LLC’s holdings in Waste Connections were worth $13,846,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of Waste Connections by 20.5% during the third quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock valued at $1,516,908,000 after purchasing an additional 1,920,302 shares in the last quarter. TD Asset Management Inc grew its position in Waste Connections by 9.8% in the fourth 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 in the last quarter. 1832 Asset Management L.P. grew its position in Waste Connections by 7.3% in the fourth quarter. 1832 Asset Management L.P. now owns 4,104,003 shares of the business services provider’s stock worth $612,605,000 after acquiring an additional 280,275 shares in the last quarter. Norges Bank purchased a new position in Waste Connections in the fourth quarter worth about $592,392,000. Finally, Mackenzie Financial Corp grew its position in Waste Connections by 57.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock worth $522,988,000 after acquiring an additional 1,281,418 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Waste Connections stock opened at $167.76 on Tuesday. The company has a 50 day moving average price of $165.70 and a 200-day moving average price of $159.20. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.75 and a current ratio of 0.75. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $173.02. The company has a market capitalization of $43.29 billion, a PE ratio of 54.47, a P/E/G ratio of 2.64 and a beta of 0.70.

Waste Connections (NYSE:WCNGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.05 billion. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, equities analysts forecast that Waste Connections, Inc. will post 4.85 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Tuesday, May 7th. Waste Connections’s dividend payout ratio (DPR) is 37.01%.

Insider Buying and Selling

In related news, Director Michael W. Harlan sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $167.59, for a total value of $251,385.00. Following the completion of the transaction, the director now owns 8,004 shares of the company’s stock, valued at $1,341,390.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Waste Connections news, Director Michael W. Harlan sold 1,500 shares of Waste Connections stock in a transaction on Friday, May 10th. The shares were sold at an average price of $167.59, for a total value of $251,385.00. Following the transaction, the director now directly owns 8,004 shares of the company’s stock, valued at $1,341,390.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Nielsen III sold 2,000 shares of Waste Connections stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total transaction of $332,000.00. Following the completion of the transaction, the senior vice president now directly owns 6,321 shares in the company, valued at $1,049,286. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on WCN. UBS Group lowered Waste Connections from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $170.00 to $181.00 in a research report on Thursday, February 29th. Jefferies Financial Group lifted their price target on Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Atb Cap Markets lowered Waste Connections from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Connections in a research note on Thursday, May 23rd. They issued a “buy” rating and a $189.00 price objective for the company. Finally, BMO Capital Markets raised their price objective on shares of Waste Connections from $182.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.94.

Read Our Latest Report on WCN

About Waste Connections

(Free Report)

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.

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

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