Waste Connections, Inc. (NYSE:WCN) Stake Raised by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 444.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,461 shares of the business services provider's stock after purchasing an additional 193,063 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.09% of Waste Connections worth $41,488,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its stake in shares of Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider's stock worth $28,000 after purchasing an additional 86 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Waste Connections in the first quarter worth approximately $32,000. Pathway Financial Advisers LLC acquired a new stake in shares of Waste Connections in the first quarter worth approximately $43,000. Signature Resources Capital Management LLC acquired a new stake in shares of Waste Connections in the second quarter worth approximately $45,000. Finally, Carolinas Wealth Consulting LLC boosted its position in shares of Waste Connections by 3,885.7% in the second quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider's stock worth $49,000 after acquiring an additional 272 shares during the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Down 0.9 %

Shares of NYSE:WCN traded down $1.62 during midday trading on Tuesday, reaching $178.85. The company had a trading volume of 1,747,050 shares, compared to its average volume of 890,216. 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 stock's fifty day moving average price is $181.86 and its 200-day moving average price is $173.54. The stock has a market capitalization of $46.15 billion, a P/E ratio of 58.37, a PEG ratio of 2.96 and a beta of 0.72. Waste Connections, Inc. has a one year low of $126.12 and a one year high of $187.54.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.07. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.22 billion. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The firm's revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 earnings per share. Equities research analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections's dividend payout ratio (DPR) is 37.01%.

Insider Activity

In other news, CFO Mary Anne Whitney sold 16,300 shares of the business's stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 48,899 shares of the company's stock, valued at $8,706,466.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Mary Anne Whitney sold 16,300 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the sale, the chief financial officer now owns 48,899 shares of the company's stock, valued at $8,706,466.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Philip Rivard sold 2,300 shares of the company's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $174.75, for a total transaction of $401,925.00. Following the completion of the sale, the senior vice president now directly owns 1,226 shares of the company's stock, valued at approximately $214,243.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,600 shares of company stock valued at $3,842,550. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Waste Connections from $175.00 to $198.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. TD Cowen raised their price target on shares of Waste Connections from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, July 26th. Raymond James raised their price target on shares of Waste Connections from $190.00 to $207.00 and gave the company a "strong-buy" rating in a report on Monday, July 22nd. Truist Financial raised their price target on shares of Waste Connections from $180.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, July 11th. Finally, Royal Bank of Canada raised their price target on shares of Waste Connections from $195.00 to $199.00 and gave the company an "outperform" rating in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.