Waste Connections, Inc. $WCN Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in Waste Connections, Inc. (NYSE:WCN) by 43.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,461 shares of the business services provider’s stock after buying an additional 43,800 shares during the quarter. Renaissance Technologies LLC owned 0.06% of Waste Connections worth $23,304,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. City Holding Co. purchased a new stake in Waste Connections in the 4th quarter worth $26,000. Measured Wealth Private Client Group LLC purchased a new position in Waste Connections during the third quarter valued at $26,000. Whipplewood Advisors LLC lifted its holdings in Waste Connections by 1,166.7% during the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC grew its position in shares of Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 135 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Waste Connections during the fourth quarter worth about $36,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Waste Connections news, COO Jason Craft sold 1,500 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.59, for a total value of $234,885.00. Following the sale, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,171,950.00. Following the completion of the transaction, the vice president owned 19,737 shares of the company’s stock, valued at $3,084,103.62. The trade was a 27.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.27% of the company’s stock.

Waste Connections Stock Up 2.2%

Shares of WCN opened at $172.93 on Thursday. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $191.73. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The stock has a fifty day simple moving average of $162.12 and a two-hundred day simple moving average of $163.21. The company has a market capitalization of $43.64 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 2.90 and a beta of 0.49.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.15. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. Waste Connections’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS. As a group, equities analysts forecast that Waste Connections, Inc. will post 5.63 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 6th. Waste Connections’s dividend payout ratio (DPR) is currently 33.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WCN shares. Weiss Ratings cut Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. The Goldman Sachs Group restated a “buy” rating and issued a $211.00 target price on shares of Waste Connections in a research report on Thursday, April 23rd. TD Cowen reaffirmed a “buy” rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. BMO Capital Markets reissued an “outperform” rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $199.00 target price 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 given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Waste Connections presently has an average rating of “Moderate Buy” and a consensus price target of $202.42.

Waste Connections Company 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.