UMB Bank n.a. increased its stake in Waste Connections, Inc. (NYSE:WCN – Get Rating) by 16.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,544 shares of the business services provider's stock after buying an additional 1,050 shares during the period. UMB Bank n.a.'s holdings in Waste Connections were worth $935,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. PFG Advisors raised its stake in Waste Connections by 2.4% in the first quarter. PFG Advisors now owns 25,055 shares of the business services provider's stock worth $3,507,000 after buying an additional 576 shares in the last quarter. Jennison Associates LLC raised its stake in Waste Connections by 2.5% in the first quarter. Jennison Associates LLC now owns 26,915 shares of the business services provider's stock worth $3,760,000 after buying an additional 665 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in Waste Connections by 3.2% in the first quarter. Gateway Investment Advisers LLC now owns 89,336 shares of the business services provider's stock worth $12,480,000 after buying an additional 2,735 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Waste Connections in the first quarter worth about $193,000. Finally, Thornburg Investment Management Inc. raised its stake in Waste Connections by 36.8% in the first quarter. Thornburg Investment Management Inc. now owns 56,866 shares of the business services provider's stock worth $7,944,000 after buying an additional 15,308 shares in the last quarter. 79.33% of the stock is owned by institutional investors.
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Wall Street Analysts Forecast Growth
WCN has been the subject of a number of analyst reports. Raymond James raised their target price on shares of Waste Connections from $146.00 to $155.00 and gave the company a "strong-buy" rating in a research note on Friday, August 5th. Oppenheimer set a $135.00 target price on shares of Waste Connections in a research note on Tuesday, July 19th. Atb Cap Markets raised shares of Waste Connections from a "sector perform" rating to an "outperform" rating in a research note on Thursday, August 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Waste Connections from $145.00 to $154.00 in a research note on Tuesday, August 9th. Finally, BMO Capital Markets raised their target price on shares of Waste Connections from $143.00 to $151.00 and gave the company an "outperform" rating in a research note on Thursday, August 4th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $148.88.
Insider Buying and Selling
In related news, Director William J. Razzouk sold 4,073 shares of the firm's stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $140.03, for a total value of $570,342.19. Following the sale, the director now owns 4,016 shares in the company, valued at $562,360.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at
the SEC website. In related news, Director William J. Razzouk sold 4,073 shares of the firm's stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $140.03, for a total value of $570,342.19. Following the sale, the director now owns 4,016 shares in the company, valued at $562,360.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at
the SEC website. Also, VP Patrick James Shea sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $145.26, for a total transaction of $1,016,820.00. Following the completion of the sale, the vice president now owns 12,813 shares in the company, valued at approximately $1,861,216.38. The disclosure for this sale can be found
here. 0.35% of the stock is currently owned by corporate insiders.
Waste Connections Trading Down 1.4 %
NYSE:WCN opened at $135.13 on Monday. The company's 50 day moving average price is $139.86 and its 200-day moving average price is $133.24. Waste Connections, Inc. has a 52 week low of $113.50 and a 52 week high of $148.20. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.82. The stock has a market cap of $34.75 billion, a price-to-earnings ratio of 51.19, a PEG ratio of 2.89 and a beta of 0.69.
Waste Connections (NYSE:WCN – Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The business services provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.05. Waste Connections had a net margin of 10.25% and a return on equity of 13.38%. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.80 billion. On average, equities research analysts forecast that Waste Connections, Inc. will post 3.75 earnings per share for the current fiscal year.
Waste Connections Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.68%. The ex-dividend date was Wednesday, August 17th. Waste Connections's dividend payout ratio is currently 34.85%.
About Waste Connections
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Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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