CI Investments Inc. Has $871,000 Holdings in Waste Connections, Inc. $WCN

CI Investments Inc. decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 90.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,363 shares of the business services provider’s stock after selling 52,235 shares during the quarter. CI Investments Inc.’s holdings in Waste Connections were worth $871,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. City Holding Co. acquired a new stake in Waste Connections in the 4th quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Waste Connections during the 3rd quarter worth about $26,000. Whipplewood Advisors LLC boosted its stake in shares of Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after buying an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC grew its holdings in shares of Waste Connections by 346.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 135 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Waste Connections in the 4th quarter valued at about $36,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

NYSE:WCN opened at $169.52 on Friday. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $191.91. The company has a market cap of $42.78 billion, a P/E ratio of 40.85, a P/E/G ratio of 2.94 and a beta of 0.49. The firm’s fifty day moving average price is $161.36 and its two-hundred day moving average price is $163.28. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.69.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. Waste Connections’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 EPS. Equities analysts expect that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen reaffirmed a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday. The Goldman Sachs Group restated a “buy” rating and issued a $211.00 price target on shares of Waste Connections in a research note on Thursday, April 23rd. JPMorgan Chase & Co. lowered their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $199.00 price objective on shares of Waste Connections in a research note on Friday. Finally, Barclays set a $180.00 price objective on Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.05.

Insider Activity

In other news, VP James Little sold 2,605 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $163.98, for a total transaction of $427,167.90. Following the completion of the sale, the vice president owned 34,395 shares in the company, valued at $5,640,092.10. The trade was a 7.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of $152.24 per share, for a total transaction of $7,612,000.00. Following the transaction, the chief executive officer directly owned 301,017 shares of the company’s stock, valued at $45,826,828.08. The trade was a 19.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 17,605 shares of company stock valued at $2,822,923. Company insiders own 0.27% of the company’s stock.

About Waste Connections

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.