Caldwell Investment Management Ltd. Invests $849,000 in Waste Connections, Inc. $WCN

Caldwell Investment Management Ltd. bought a new position in shares of Waste Connections, Inc. (NYSE:WCN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,100 shares of the business services provider’s stock, valued at approximately $849,000. Waste Connections makes up about 0.6% of Caldwell Investment Management Ltd.’s portfolio, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WCN. OneAscent Family Office LLC acquired a new position in Waste Connections during the 2nd quarter worth approximately $215,000. OneAscent Financial Services LLC acquired a new stake in Waste Connections in the second quarter valued at approximately $434,000. Allworth Financial LP acquired a new stake in Waste Connections in the second quarter valued at approximately $12,089,000. Vise Technologies Inc. bought a new stake in shares of Waste Connections during the second quarter worth $1,851,000. Finally, Notis McConarty Edward bought a new stake in shares of Waste Connections during the second quarter worth $1,601,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Up 0.9%

WCN opened at $169.81 on Friday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $188.09. The company has a fifty day moving average of $166.53 and a 200-day moving average of $163.17. The stock has a market cap of $42.72 billion, a PE ratio of 40.92, a price-to-earnings-growth ratio of 2.89 and a beta of 0.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The company 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 in the previous year, the business earned $1.29 EPS. On average, sell-side analysts predict that Waste Connections, Inc. will post 5.62 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors 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 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is presently 33.73%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WCN shares. 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. Citigroup boosted their price objective on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Royal Bank Of Canada restated an “outperform” rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, TD Cowen reiterated 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, July 24th. Two 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.89.

Insider Buying and Selling at Waste Connections

In other news, VP Patrick James Shea sold 7,500 shares of Waste Connections stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the transaction, the vice president directly owned 19,737 shares in the company, valued at $3,084,103.62. This trade represents a 27.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.59, for a total value of $234,885.00. Following the transaction, the chief operating officer owned 32,861 shares of the company’s stock, valued at $5,145,703.99. This trade represents a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 14,311 shares of company stock worth $2,303,997. Company 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.