Vise Technologies Inc. Invests $1.85 Million in Waste Connections, Inc. $WCN

Vise Technologies Inc. acquired a new stake in shares of Waste Connections, Inc. (NYSE:WCN) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 11,104 shares of the business services provider’s stock, valued at approximately $1,851,000.

Other hedge funds also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new stake in Waste Connections in the 3rd quarter worth approximately $26,000. Whipplewood Advisors LLC lifted its holdings in Waste Connections by 1,166.7% during the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC boosted its position in shares of Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after purchasing an additional 135 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Waste Connections in the fourth quarter worth approximately $36,000. Finally, Entrust Financial LLC bought a new position in shares of Waste Connections in the fourth quarter worth approximately $37,000. 86.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WCN shares. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $199.00 price objective on shares of Waste Connections in a research report on Friday, July 24th. UBS Group reaffirmed a “neutral” rating and issued a $176.00 target price (up from $170.00) on shares of Waste Connections in a report on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a research note on Friday, August 7th. Barclays increased their price target on Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Finally, Citigroup boosted their price objective on Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.89.

Waste Connections Trading Up 0.9%

Waste Connections stock opened at $169.81 on Friday. The stock has a market cap of $42.72 billion, a P/E ratio of 40.92, a PEG ratio of 2.89 and a beta of 0.48. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $188.09. The firm’s 50 day moving average price is $166.53 and its 200-day moving average price is $163.17.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts predict that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.35 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s payout ratio is presently 33.73%.

Insider Activity at Waste Connections

In other news, SVP Robert Michael Cloninger sold 2,811 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the transaction, the senior vice president owned 11,666 shares in the company, valued at $1,995,119.32. This trade represents a 19.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Philip Rivard sold 2,500 shares of Waste Connections stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total value of $416,425.00. Following the completion of the sale, the senior vice president directly owned 734 shares in the company, valued at $122,262.38. This trade represents a 77.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 14,311 shares of company stock worth $2,303,997 in the last quarter. 0.27% of the stock is owned by company insiders.

Waste Connections Profile

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.