Broderick Brian C Purchases Shares of 5,983 Waste Connections, Inc. $WCN

Broderick Brian C purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the first quarter, Holdings Channel.com reports. The firm purchased 5,983 shares of the business services provider’s stock, valued at approximately $972,000.

Several other large investors also recently modified their holdings of WCN. SEB Asset Management AB bought a new stake in shares of Waste Connections in the 1st quarter valued at $8,701,000. Swiss National Bank lifted its position in shares of Waste Connections by 6.5% during the 1st quarter. Swiss National Bank now owns 751,345 shares of the business services provider’s stock valued at $122,048,000 after acquiring an additional 45,700 shares during the period. Angeles Wealth Management LLC bought a new position in Waste Connections during the first quarter worth $306,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Waste Connections during the first quarter worth $2,485,000. Finally, Beaumont Financial Advisors LLC grew its holdings in Waste Connections by 2.7% in the first quarter. Beaumont Financial Advisors LLC now owns 32,940 shares of the business services provider’s stock worth $5,351,000 after purchasing an additional 870 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Insiders Place Their Bets

In other Waste Connections news, COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.59, for a total transaction of $234,885.00. Following the completion of the transaction, the chief operating officer owned 32,861 shares in the company, valued at approximately $5,145,703.99. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the acquisition, the chief executive officer directly owned 301,017 shares in the company, valued at approximately $45,826,828.08. This represents a 19.92% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 17,605 shares of company stock worth $2,822,923 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Barclays set a $180.00 target price on Waste Connections and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Citigroup upped their price target on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $202.00.

Waste Connections Stock Performance

WCN opened at $172.01 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. The company’s fifty day moving average price is $159.79 and its two-hundred day moving average price is $163.44. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $191.91. The company has a market cap of $43.40 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 3.02 and a beta of 0.49.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. On average, analysts expect that Waste Connections, Inc. will post 5.49 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is presently 34.15%.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.