Waste Connections, Inc. $WCN Stock Holdings Lifted by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its stake in Waste Connections, Inc. (NYSE:WCN) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,617 shares of the business services provider’s stock after acquiring an additional 8,526 shares during the period. Waste Connections accounts for 1.5% of Cidel Asset Management Inc.’s holdings, making the stock its 16th biggest holding. Cidel Asset Management Inc.’s holdings in Waste Connections were worth $31,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Evolve Private Wealth LLC purchased a new position in Waste Connections in the 2nd quarter worth $1,022,000. Oppenheimer Asset Management Inc. purchased a new stake in Waste Connections during the 2nd quarter valued at about $12,398,000. Varenne Capital Partners purchased a new stake in Waste Connections during the 2nd quarter valued at about $5,714,000. Legacy Wealth Asset Management LLC grew its stake in Waste Connections by 68.1% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 15,966 shares of the business services provider’s stock valued at $2,661,000 after purchasing an additional 6,470 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Waste Connections in the second quarter valued at about $2,315,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Trading Up 1.1%

Shares of WCN stock opened at $183.93 on Friday. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $188.20. The company has a market cap of $46.08 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 3.37 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a 50 day simple moving average of $163.36 and a 200-day simple moving average of $163.52.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 21st. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.06. Waste Connections had a net margin of 11.40% and a return on equity of 17.76%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.60 billion. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities research analysts expect that Waste Connections, Inc. will post 5.70 EPS for the current fiscal year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be issued a $0.3850 dividend. This is a boost from Waste Connections’s previous quarterly dividend of $0.35. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, November 5th. Waste Connections’s payout ratio is 31.32%.

Analyst Ratings Changes

A number of equities analysts have issued reports on WCN shares. UBS Group reissued a “buy” rating and set a $215.00 price target (up from $200.00) on shares of Waste Connections in a research report on Tuesday. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $207.00 price objective (up from $184.00) on shares of Waste Connections in a report on Friday, October 23rd. Weiss Ratings upgraded shares of Waste Connections from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 15th. TD Cowen reissued a “buy” rating and set a $215.00 target price (up from $210.00) on shares of Waste Connections in a report on Friday, October 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Waste Connections from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Waste Connections currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.22.

Insider Activity at Waste Connections

In other Waste Connections news, VP James Little sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $185.22, for a total value of $370,440.00. Following the completion of the sale, the vice president directly owned 32,395 shares of the company’s stock, valued at $6,000,201.90. This trade represents a 5.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Derek Tan sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $186.77, for a total transaction of $186,770.00. Following the sale, the chief accounting officer owned 404 shares of the company’s stock, valued at approximately $75,455.08. The trade was a 71.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 5,500 shares of company stock valued at $973,635. 0.27% of the stock is currently owned by insiders.

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.