Toronto Dominion Bank Reduces Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Toronto Dominion Bank cut its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 31.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 416,084 shares of the business services provider's stock after selling 190,947 shares during the period. Toronto Dominion Bank owned 0.16% of Waste Connections worth $72,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in WCN. Wellington Management Group LLP raised its holdings in Waste Connections by 43.4% in the 4th quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider's stock valued at $651,427,000 after acquiring an additional 1,320,933 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in Waste Connections by 113.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,188,703 shares of the business services provider's stock worth $177,438,000 after buying an additional 630,685 shares in the last quarter. TD Asset Management Inc lifted its position in Waste Connections by 9.8% during 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 buying an additional 509,929 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Waste Connections by 1,167.4% during the second quarter. Principal Financial Group Inc. now owns 473,422 shares of the business services provider's stock worth $83,020,000 after buying an additional 436,067 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI grew its holdings in Waste Connections by 438.5% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 535,471 shares of the business services provider's stock valued at $92,106,000 after buying an additional 436,041 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Connections

In other news, SVP Susan Netherton sold 2,000 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $179.13, for a total transaction of $358,260.00. Following the completion of the transaction, the senior vice president now directly owns 10,078 shares of the company's stock, valued at $1,805,272.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related 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 transaction, the senior vice president now owns 4,321 shares of the company's stock, valued at $778,428.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Susan Netherton sold 2,000 shares of the firm's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $179.13, for a total value of $358,260.00. Following the completion of the sale, the senior vice president now owns 10,078 shares in the company, valued at $1,805,272.14. The disclosure for this sale can be found here. Insiders have sold 21,600 shares of company stock valued at $3,842,550 in the last quarter. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

WCN has been the topic of several recent research reports. BMO Capital Markets boosted their price target on shares of Waste Connections from $196.00 to $198.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. TD Cowen lifted their target price on shares of Waste Connections from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Truist Financial increased their price target on shares of Waste Connections from $180.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price target on shares of Waste Connections from $175.00 to $198.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. Finally, CIBC upped their price objective on Waste Connections from $191.00 to $193.00 and gave the company an "outperformer" rating in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $187.28.

Waste Connections Stock Up 0.6 %

Shares of WCN stock traded up $1.12 during trading on Wednesday, reaching $180.50. The company's stock had a trading volume of 1,565,386 shares, compared to its average volume of 897,272. Waste Connections, Inc. has a 1-year low of $126.12 and a 1-year high of $187.54. The stock's 50-day moving average price is $181.80 and its 200 day moving average price is $173.63. The company has a market capitalization of $46.58 billion, a price-to-earnings ratio of 58.60, a P/E/G ratio of 2.88 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 (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The company's quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts anticipate that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were issued 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 0.63%. Waste Connections's dividend payout ratio (DPR) is 37.01%.

About Waste Connections

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.