Quantitative Investment Management LLC Makes New Investment in Waste Connections, Inc. $WCN

Quantitative Investment Management LLC purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,275 shares of the business services provider’s stock, valued at approximately $879,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. XXEC Inc. purchased a new stake in Waste Connections in the 2nd quarter worth approximately $164,870,000. Royal Bank of Canada boosted its stake in shares of Waste Connections by 0.9% during the 1st quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider’s stock valued at $1,983,500,000 after buying an additional 106,763 shares during the period. Capital International Investors grew its holdings in shares of Waste Connections by 28.2% during the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider’s stock valued at $1,134,781,000 after acquiring an additional 1,420,921 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Waste Connections during the 2nd quarter valued at $1,061,947,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Waste Connections by 37.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider’s stock worth $835,370,000 after acquiring an additional 1,289,042 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WCN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. Citigroup upped their target price on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. TD Cowen reaffirmed a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. UBS Group reiterated a “neutral” rating and set a $176.00 price target (up from $170.00) on shares of Waste Connections in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. lowered their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Two equities research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.89.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $164.13 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $41.29 billion, a price-to-earnings ratio of 39.55, a P/E/G ratio of 2.84 and a beta of 0.48. The business’s 50-day simple moving average is $168.06 and its 200-day simple moving average is $162.96. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $185.12.

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

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Waste Connections’s dividend payout ratio (DPR) is currently 33.73%.

Insider Activity

In related news, SVP Robert Michael Cloninger sold 2,811 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the transaction, the senior vice president directly owned 11,666 shares in the company, valued at approximately $1,995,119.32. This trade represents a 19.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.59, for a total transaction of $234,885.00. Following the completion of the transaction, the chief operating officer owned 32,861 shares in the company, valued at $5,145,703.99. This trade represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,311 shares of company stock valued at $2,303,997 over the last three months. Corporate insiders own 0.27% of the company’s stock.

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.