Waste Connections, Inc. (NYSE:WCN) Stock Holdings Reduced by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its position in Waste Connections, Inc. (NYSE:WCN) by 3.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,222,350 shares of the business services provider’s stock after selling 250,897 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Waste Connections were worth $1,070,308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Magnetar Financial LLC purchased a new position in Waste Connections in the first quarter valued at about $1,319,000. Quadrature Capital Ltd lifted its position in shares of Waste Connections by 12.7% in the first quarter. Quadrature Capital Ltd now owns 240,000 shares of the business services provider’s stock worth $41,138,000 after buying an additional 27,100 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Waste Connections by 35.3% in the first quarter. Canada Pension Plan Investment Board now owns 488,686 shares of the business services provider’s stock worth $84,094,000 after buying an additional 127,522 shares during the last quarter. Capital International Inc. CA lifted its position in shares of Waste Connections by 1.3% in the first quarter. Capital International Inc. CA now owns 130,632 shares of the business services provider’s stock worth $22,470,000 after buying an additional 1,667 shares during the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Waste Connections in the first quarter worth about $266,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Insider Activity

In other news, SVP Robert Nielsen III sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total value of $332,000.00. Following the sale, the senior vice president now directly owns 6,321 shares in the company, valued at approximately $1,049,286. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Michael W. Harlan sold 1,500 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $167.59, for a total transaction of $251,385.00. Following the sale, the director now directly owns 8,004 shares in the company, valued at approximately $1,341,390.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Nielsen III sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total value of $332,000.00. Following the sale, the senior vice president now owns 6,321 shares in the company, valued at $1,049,286. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,500 shares of company stock worth $752,385. Company insiders own 0.31% of the company’s stock.

Waste Connections Stock Performance

Waste Connections stock traded up $0.18 during trading hours on Friday, hitting $175.66. The stock had a trading volume of 1,140,068 shares, compared to its average volume of 931,511. The company has a 50-day moving average of $172.59 and a two-hundred day moving average of $166.79. The company has a quick ratio of 0.75, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. The company has a market cap of $45.32 billion, a PE ratio of 57.03, a price-to-earnings-growth ratio of 2.91 and a beta of 0.72. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $182.99.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.17 by $0.07. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.02 EPS. On average, equities research analysts anticipate that Waste Connections, Inc. will post 4.81 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.65%. Waste Connections’s dividend payout ratio is currently 37.01%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Oppenheimer boosted their price target on Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets boosted their price target on Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday. Truist Financial boosted their price target on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Waste Connections in a research report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $186.00.

Waste Connections Profile

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.