Capital Innovations LLC Invests $4.17 Million in Waste Connections, Inc. $WCN

Capital Innovations LLC purchased a new position in Waste Connections, Inc. (NYSE:WCN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 23,801 shares of the business services provider’s stock, valued at approximately $4,174,000.

Other large investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Waste Connections in the 3rd quarter worth about $1,911,000. Cidel Asset Management Inc. lifted its position in shares of Waste Connections by 19.5% in the 3rd quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider’s stock worth $28,780,000 after buying an additional 26,684 shares during the last quarter. Procyon Advisors LLC bought a new position in shares of Waste Connections in the 4th quarter worth about $1,908,000. Trium Capital LLP bought a new position in shares of Waste Connections in the 4th quarter worth about $1,995,000. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Waste Connections by 770.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 57,519 shares of the business services provider’s stock worth $10,112,000 after acquiring an additional 50,911 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WCN shares. JPMorgan Chase & Co. increased their price objective on shares of Waste Connections from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. TD Cowen dropped their price objective on shares of Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Wolfe Research started coverage on shares of Waste Connections in a report on Friday, March 13th. They issued an “outperform” rating and a $199.00 price objective on the stock. Scotiabank set a $197.00 price objective on shares of Waste Connections and gave the stock a “sector outperform” rating in a report on Friday, February 13th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $203.35.

Waste Connections Stock Down 0.4%

WCN stock opened at $148.93 on Wednesday. The stock has a market cap of $37.79 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 2.65 and a beta of 0.51. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. The firm’s 50-day simple moving average is $158.66 and its 200 day simple moving average is $166.17. Waste Connections, Inc. has a fifty-two week low of $146.89 and a fifty-two week high of $195.82.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. Waste Connections’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. As a group, sell-side analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections’s dividend payout ratio (DPR) is presently 34.15%.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Eric Hansen sold 6,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $164.82, for a total transaction of $988,920.00. Following the transaction, the senior vice president owned 13,350 shares of the company’s stock, valued at approximately $2,200,347. This trade represents a 31.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Little sold 2,605 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $163.98, for a total transaction of $427,167.90. Following the transaction, the vice president directly owned 34,395 shares in the company, valued at approximately $5,640,092.10. The trade was a 7.04% decrease in their position. The SEC filing for this sale provides additional information. 0.27% of the stock is owned by corporate insiders.

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.