Canoe Financial LP Buys Shares of 12,000 Waste Connections, Inc. (NYSE:WCN)

Canoe Financial LP acquired a new position in Waste Connections, Inc. (NYSE:WCN - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,000 shares of the business services provider's stock, valued at approximately $2,129,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WCN. Wealth Enhancement Advisory Services LLC grew its holdings in Waste Connections by 5.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,575 shares of the business services provider's stock worth $818,000 after purchasing an additional 239 shares during the last quarter. Forsta AP Fonden boosted its position in shares of Waste Connections by 12.6% in the 3rd quarter. Forsta AP Fonden now owns 50,900 shares of the business services provider's stock worth $9,102,000 after purchasing an additional 5,700 shares in the last quarter. Allworth Financial LP grew its stake in Waste Connections by 5.4% during the 3rd quarter. Allworth Financial LP now owns 4,854 shares of the business services provider's stock worth $868,000 after buying an additional 250 shares during the last quarter. Values First Advisors Inc. grew its stake in Waste Connections by 13.5% during the 3rd quarter. Values First Advisors Inc. now owns 8,940 shares of the business services provider's stock worth $1,600,000 after buying an additional 1,063 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in Waste Connections during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 86.09% of the company's stock.

Wall Street Analysts Forecast Growth

WCN has been the topic of a number of research analyst reports. Raymond James dropped their price target on Waste Connections from $208.00 to $205.00 and set a "strong-buy" rating on the stock in a research note on Friday. Royal Bank of Canada upped their price target on shares of Waste Connections from $199.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday. Truist Financial lifted their price objective on shares of Waste Connections from $180.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, July 11th. Oppenheimer upped their target price on Waste Connections from $191.00 to $194.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Finally, TD Cowen lifted their price target on Waste Connections from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $195.56.

Insiders Place Their Bets

In other news, SVP Susan Netherton sold 2,000 shares of Waste Connections stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $179.13, for a total value of $358,260.00. Following the sale, the senior vice president now owns 10,078 shares in the company, valued at $1,805,272.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Susan Netherton sold 2,000 shares of Waste Connections stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $179.13, for a total value of $358,260.00. Following the sale, the senior vice president now directly owns 10,078 shares of the company's stock, valued at $1,805,272.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Philip Rivard sold 2,300 shares of the company's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $174.75, for a total transaction of $401,925.00. Following the sale, the senior vice president now directly owns 1,226 shares of the company's stock, valued at $214,243.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,600 shares of company stock worth $3,842,550. Company insiders own 0.31% of the company's stock.

Waste Connections Price Performance

Shares of WCN stock traded up $1.11 during mid-day trading on Monday, hitting $176.91. 604,407 shares of the stock were exchanged, compared to its average volume of 880,683. The firm has a fifty day moving average of $181.95 and a 200 day moving average of $175.22. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. Waste Connections, Inc. has a 52-week low of $128.41 and a 52-week high of $187.54. The company has a market cap of $45.65 billion, a PE ratio of 52.85, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.05. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The company had revenue of $2.34 billion during the quarter, compared to analysts' expectations of $2.30 billion. During the same quarter in the prior year, the firm posted $1.17 EPS. Waste Connections's quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts anticipate that Waste Connections, Inc. will post 4.82 earnings per share for the current year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from Waste Connections's previous quarterly dividend of $0.29. Waste Connections's payout ratio is presently 34.13%.

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.